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Our Bureau

New Delhi , Nov.1

INDIA has emphasised the need for genuine agricultural reforms on part of the developed nations, and also hoped for genuine liberalisation of the services sector.

Inaugurating the consultation on the WTO July 2004 Framework, the Commerce Minister, Mr Kamal Nath, said there should be a development-friendly non-agricultural market access (NAMA) framework, according to an official statement here.

On NAMA, the consultation noted that tariff peaks and tariff escalations in the major markets for India hindered exports.

Releasing the recommendations of the consultation, Mr Lakshmi Puri, Director, Division of International Trade in Goods, Services and Commodities, Unctad (United Nations Conference on Trade and Development), said the adjustment cost to the industry following elimination of tariffs under NAMA could be significantly higher for certain products, particularly for the small and medium enterprises.

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