The issues include global rules to protect fish stock, agriculture, food security, a temporary absence of customs duties on electronic transactions, as well the WTO's reforms related to dispute settlement.
The ministerial will take place from February 26 to 29. Here are the key issues and India's stand on them.
Food security & agri reforms
On top of the agenda is to fast-track its long-pending demand for a "permanent solution" to the issue of public stockholding, agreed upon over a decade ago.
The clause aimed at shielding developing countries from being legally challenged over the so-called subsidies.
Through its public stockholding, the Indian government procures food grains at predetermined prices and distributes them through the public distribution system. The policy tool is used by the government to preserve food security. India has found support from a group of developing nations, including African ones, on this matter. However, developed countries view this as a subsidy for farmers and a distortion to trade. A permanent solution is crucial since some developed countries have been raising questions over India's minimum support price (MSP) programme for food grains, particularly rice, since the subsidy has breached the suggested limit under WTO trade norms thrice.
This story is from the February 24, 2024 edition of Business Standard.
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This story is from the February 24, 2024 edition of Business Standard.
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