labels: industry - general, trade
India''s WTO offerings dependant on reciprocity news
Our Economy Bureau
31 May 2005

New Delhi: The cabinet committee on WTO, which met under the chairmanship of prime minister Manmohan Singh, has directed the commerce ministry to make improved offers in sectors where initial offers have already been made in 2003.

"What we ultimately offer will depend on what is offered to us," commerce minister Kamal Nath said, adding that his ministry had been given the flexibility to move forward in services negotiations.

"While making the revised offer, New Delhi will also be guided by the range and depth of the improved offers that would be made by the developed countries in modes and sectors of interest to India," he said.

The sectors in which initial offers were made included business services, construction and related engineering services, health related and social services, tourism and travel related, maritime and transport services.

The opening up of retail, legal and accountancy services will be solely driven by national interests even though there is a mounting pressure on India from the US and other developed countries on the issue.

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India''s WTO offerings dependant on reciprocity