"There is a growing disenchantment, anguish and anger in our domestic constituencies and a sense of deja vu as once again they see the interests of developing countries being subordinated to the might of the developed world," India has said in its statement at a meeting of WTO members in Geneva.
With the developed countries attempting to sideline the Bali package on food security programmes of developing nations and issues of the least developed countries (LDCs), the whole matter may now result in Doha type of stalemate.
India has stated that the pace of implementation of the Bali decisions has been heavily skewed in favour of trade facilitation and virtually all other decisions have been relegated to the background. "This is unacceptable".
In the WTO's Ministerial meeting in Bali in December last year, members have agreed to finalise on TFA and find a permanent solution to unhindered implementation of food security scheme so that these programmes do not attract any multilateral scrutiny.
A senior official in the Commerce Ministry said: "India will not be able to lend itself to the consensus on TF protocol unless there is a tangible, credible evidence of movement on other parts of the Bali package which includes primarily ours public stock holding and LDC issues".
The TFA, which aims at simplifying customs procedure, increasing transparency and reducing transactions cost, is being pushed by the US and other developed world as they seek to bolster their sagging economies through an unhindered international trade by way of a uniform and easy procedures at customs.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
