WTO talks on ITA-II collapse, India heaves sigh of relief

India has been opposing the pact as ITA will only benefit the country when its domestic manufacturing is robust

Following the collapse of talks to extend the Information Technology Agreement (ITA) on Friday, perhaps India has reason to rejoice. The World Trade Organization (WTO)-led agreement was aimed at increasing the scope of the 17-year-old trade pact that guarantees zero-tariff and duty-free trade in hundreds of products. The second phase of the agreement was expected to be worth $1 trillion and add about 200 products to the list. Before taking the matter to the WTO, China and the US had recently agreed to sign the agreement. India had been opposing the pact, deciding not to become a ...