Import Curbs Talks With Wto Next Week: Fm

India will start negotiations with the World Trade Organisation (WTO) on the phasing out of balance of payment cover and quantitative restrictions on the import of consumer goods and agricultural goods next week, said Union finance minister P Chidambaram.

The negotiations would, in many ways, pave the way for a historic decision, Chidambaram said while addressing the 41st annual general meeting of the Indo-German Chamber of Commerce here on Thursday night.

He said it was one of the activities pursued by India in its quest for a stronger economy, a better society and an equal place in the world.

The finance minister said that basic telecom services in the private sector would be commissioned in two states by November this year, while other projects were at the stage of financial closure.

 

Over 4,000 mw of independent power projects were under construction and another 7,000 mw would soon enter the construction phase, he said and added that India planned to add another 8,000 mw of generating capacity in the next five years, most of it through private investment.