Financial Daily from THE HINDU group of publications
Thursday, May 26, 2005

News
Features
Stocks
Port Info
Archives
Google

Group Sites

Industry & Economy - WTO


Cabinet panel on WTO to discuss revised offer on services this week

Our Bureau

New Delhi , May 25

THE Government is looking to improving the country's offer on services at the World Trade Organisation (WTO) in the hope that the developed countries would reciprocate by allowing a liberalised visa/work permit regime for the movement of professionals from India.

The Cabinet Committee on WTO Affairs is to soon take up for discussion and approval the country's revised offer on services for negotiations at the WTO. The revised offer is to be submitted by May 31.

"The revised offer proposals would be little more ambitious than the initial proposals", the Commerce Secretary, Mr S. N. Menon, told the chief secretaries of the State governments and the Union Territories at a workshop on `State of play at the WTO negotiations'.

He said the Department of Commerce was in the process of finalising the revised offer on services. "The revised offer would go to the Cabinet. The Cabinet Committee on WTO Affairs is likely to meet during the course of this week," he said.

However, he did not elaborate on the revised offer proposals.

Under the WTO, services negotiations are carried on a `request and offer' basis. Services account for more than 50 per cent of the country's gross domestic product. The Commerce Secretary made it clear that India has "offensive interest" in the liberalisation of the world market for services, especially in Mode 1 (cross border) and Mode 4 (movement of natural persons).

Senior officials said that India had in its initial offers submitted proposals in respect of nine key sectors. This time round, in the revised offer, they expect the coverage of the sub-sectors to be further widened.

The Commerce Secretary also indicated that steps would be taken to "reactivate" the Group of Ministers that was earlier looking into issues relating to both agriculture and non-agricultural market access.

"We think the time is ripe for it," he said. The Commerce Ministry anticipates intense negotiating activities in the run-up to the next WTO Ministerial conference at Hong Kong in December.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page


Stories in this Section
Monsoon expected to hit Andamans today


Control room for rain problems in DK dist
Indian consumer confidence rising: MasterCard survey
SAARC nations to focus on statistics, data collection
`Political will, sincerity could help overcome disputes'
Musharraf tells Indian business delegation

FIEO signs pact to boost trade with Argentina
Now, utilities profit from power crunches through hourly contracts
Maharashtra Govt, Oppn fail to reach consensus on power crisis issue
Unbundled distribution cos may open escrow accounts
Power supply to Adilabad hit
Textile body nod for NTC land buy proposal
Textile Minister's assurance to exporters on trade issues
Bill to regulate TV channels
ICWAI unveils e-learning module
Globsyn B-school to provide consultancy
AP panel to submit report on handloom sector next month
Nuziveedu launches Bt cotton strains
Research body develops GM rubber — Variety tolerant to drought, environment stress
EPFO board meets on Saturday to decide on interest for 2004-05
Cabinet panel on WTO to discuss revised offer on services this week
AP to create land bank for distribution to poor
Two-day meet on plumbing
Keltron to hold workshop
MakeMyTrip.com gets $10-m funding
Kerala Govt sanctions Rs 4.31 cr to build seawalls


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line