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India softens stand on U.S. offer

GENEVA: Softening its stand on the U.S. offer, India on Wednesday described the American proposal to reduce its farm aid as a ‘good sign’ and hoped developed nations will make similar moves in other areas for reaching a breakthrough in WTO talks.

“I was really optimistic when I heard about this $15 billion. The fact the movement has started is a good sign,” Commerce and Industry Minister Kamal Nath told reporters.

Mr. Kamal Nath, who rejoined the key trade ministers for resolving the contentious issues of tariff reduction and a cut in farm subsidy, said that the other developed countries should also move forward.

“I am looking forward to a similar move by developed countries in other areas also.” — PTI

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