Govt has set up advisory group to look into global trade challenges: Prabhu

HLAG will consider ways for boosting India's share and importance in global merchandise and services trade, says Suresh Prabhu

Minister for Commerce and Industry, Suresh Prabhu, on Friday approved constitution of a High Level Advisory Group (HLAG) to make recommendations in identifying opportunities and addressing challenges in the contemporary global trade scenario.

The HLAG will be headed by Surjit S. Bhalla, Director of Oxus Research and Investments. The other members of the Group are S. Jaishankar, former Foreign Secretary; Rajeev Kher, former Commerce Secretary and Member Competition Appellate Tribunal; Sanjeev Sanyal, Principal Economic Advisor, Government of India; Adil Zainul bhai, Chairman Quality Council of India; Dr.Harsha Vardhana Singh, former DDG WTO; Dr.Shekhar Shah, DG, NCAER; Dr.Vijay Chauthaiwale, Foreign Policy Advisor; Dr.Pulok Ghosh, IIM Bangalore; Jayant Dasgupta, former Ambassador of India to the WTO; Rajiv K Luthra of Luthra&Luthra and Chandrajit Banerjee, DG, CII.

"The HLAG will consider ways for boosting India's share and importance in global merchandise and services trade, managing pressing bilateral trade relations and mainstreaming new age policy making," the Ministry of Commerce and Industry said in a press release.

The Terms of Reference (ToR) of the HLAG are to examine the prevailing international trade dynamics, including the rising protectionist tendencies, particularly by the major economies, non-engagement of some countries on outstanding trade negotiation issues and commitments, including the Doha Development Agenda, and their insistence on pursuing negotiating mandates, in many cases prematurely and without efforts, to build consensus and common understanding, the ministry said.

"The HLAG will suggest a way forward for India and provide options for a balanced approach for the global community to build on achievements thus far, in creating a conducive global trade framework and move forward in a consensual manner that is acceptable to the larger global community," the ministry added.

The Group may consider possible approaches and suggest a pragmatic framework for India's future engagement in international trade, and the manner in which it can play a proactive and constructive role in working with the community of Nations in exploring and building consensus on resolving emergent trade related issues.

The HLAG will meet regularly over the next two months and make specific implementable recommendations in light of the ToR to facilitate the formulation of future trade policies. The HLAG can also invite special invitees whose inputs may be considered necessary. Centre for WTO Studies (CWTOS), New Delhi will provide the secretariat to the HLAG.