India seeing real challenge at WTO: Suresh Prabhu

India was seeing real challenge at World Trade Organsation and in the global trading system itself, union minister Suresh Prabhu said here today.

In March, the commerce and industries minister had appealed to WTO members to identify common ground for strengthening the multi-lateral trade body amid challenges being faced by it following the deadlock at the Buenos Aires Ministerial.

Prabhu had said the meeting was happening at a time when WTO is facing multiple challenges including a deadlock which happened at Buenos Aires, Argentina.

"For the first time, the country is seeing a real challenge at WTO and the global trading system itself. Because, first time, countries are putting roadblocks and (it) is going to be real, real issue," he said addressing industrialists at an event organised by FIEO.

Prabhu said on the Centre's part it was trying to be friendly with all the countries.

"We are not enemies as far as trade is concerned. We want to make friendship. With China, we had huge trade deficit. I invited the Chinese Commerce Minister (Zhong Shan)to India and signed mmany agreements and decided not only to reduce trade deficit but (bring in) balance in trade", he said.

The government was also talking with the European Union on the WTO issue as it was a "big market place", he said.

"We are talking to EU about these issues. Japan, Korea, ASEAN countries. I had invited them and we decided to increase the trade volume," he said.

On the production of agriculture in India, he said, India's total agriculture production stood at 285 million tonnes while horticulture was at 300 million tonnes last year.

"This year, hoping the monsoon is good, probably together our agriculture and horticulture will be more than 620 million tonnes..." he said.

Prabhu said in order to boost agriculture exports, the government was planning to roll out an "agriculture export policy."
The Commerce Minister, earlier in the day, called on Chief Minister K Palaniswami and referring to his brief interaction with him, said, "I discussed with the chief minister to start a second big airport for Chennai on a few hundred acres of land."