The Hindu Business Line : `Time for action plan to meet WTO challenges'

THE Vice-President, Mr Bhairon Singh Shekhawat, has stressed the need for an urgent action to prepare Indian industry and agriculture to face the challenges of competition in the new emerging World Trade Organisation (WTO) regime.

"Nothing prevents us from taking requisite steps in this behalf. Why should we be inhibited or neglected taking care of our agriculture as also the small-scale sector including village industries, handloom and handicrafts. Otherwise, small and marginal farmers and our artisans would under the WTO regime be exposed to unfair competition from subsidised exports and that could undermine their livelihood security", Mr Shekhawat said at a function here.

Mr Shekhawat released a document "WTO-The Road Ahead" prepared by the Trade Laws and WTO Committee of the Institute of Chartered Accountants of India (ICAI).

In his view, WTO would be judged as a "success" by the developing countries if it helps in establishing a framework of international trade, which promotes the type of growth that such countries are looking forward with great expectations.

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