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CII welcomes WTO deal

Hong Kong: Indian industry on Sunday welcomed the WTO deal terming it a positive step and complimented Commerce Minister Kamal Nath for negotiating several provisions of vital interest to India.

"A positive outcome of the Hong Kong Ministerial meeting is a welcome development of the Doha Round," Confederation of Indian Industry vice-president R. Seshasyee said and congratulated Mr. Nath for safeguarding developing countries' interests at the talks.

He said it was important for WTO members to ensure that the development objectives of the round were met quickly.

FICCI secretary general Amit Mitra welcomed India's initiative to build the grand alliance of 110 developing and least developed countries. "To form such a coalition cutting across levels of development and interests through a process of inclusion, engagement and commitment would not only strengthen the multilateral system but also safeguard many legitimate concerns of the developing world in agriculture, goods and services."

FICCI said the flexibility to self-designate Special Products and price and volume triggers in Special Safeguard Mechanism would enable India to protect its livelihood and food security concerns. — PTI

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