SJM Wants Government to Protect India’s Interest at the WTO Meet
Swadeshi Jagran Manch (SJM) has given words of advice to the Union Commerce Minister, Suresh Prabhu ahead of preparation for the mini ministerial meet of the 50 WTO countries in India on Monday.
Affiliated to the RSS, the SJM has warned the ministry to tread with caution on the investment facilitation issue as making any statement on this controversial topic can send wrong signals to the member countries. If India is isolated in its efforts to safeguard the interests of the nation then be it so.
SJM elaborated that for pulling foreign investment into the country, the tool of investment facilitation rules will not help in any way due to a lack of consensus on the issue among the varied ministries. Eliminating blockades for ensuring speedy administrative requirements and processes and boosting cooperation between nations was the main motive of investment facilitation. The national co-convener of SJM, Ashwani Mahajan felt that there could be a danger to the interests of our nation if we acceded to investment facilitation.
SJM further stated that introduction of motion for talks on new issues should be undertaken only if it was unanimously passed by all members of WTO. It reminded the commerce and industry ministry on the changing priorities of USA and developed nations on investment facilitation and work-program on e-commerce rule making besides their restricting subsidies for fisheries that were unlawful and unreported. The biggest hurdle, it stated to India’s public grains stockholding was the USA.
It asked India to adopt a policy of ‘wait and watch’ with regard to digital trade across the borders and introduce a combined statement with similar thinking countries opposing joint negotiations on this topic.
In the light of the increasing trend of use of protectionist policies by developed countries, it is essential for ensuring the continuance of differential and distinct treatment stipulations available to the developing nations.