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LATEST NEWS UPDATES | India seeks new benchmark for farm subsidy at WTO -Banikinkar Pattanayak

India seeks new benchmark for farm subsidy at WTO -Banikinkar Pattanayak

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published Published on Jun 27, 2022   modified Modified on Jun 29, 2022

-Financial Express

The extent of asymmetry between the support extended by the developing and the developed countries was brought to the fore in an earlier paper jointed submitted by India, China and some others.

India, along with 80-odd developing countries, has sought a revision of the over three-decade-old external reference prices of farm commodities that are used by the World Trade Organization (WTO) to calculate current domestic farm subsidies extended by developing nations, official sources told FE.

While not much headway was made on these issues at the recently-concluded 12th ministerial of the WTO, as the focus was shifted to deals in curbing fishery subsidies and a patent waiver for Covid vaccines, the multilateral body is expected to take up these issues soon at its meetings on agriculture. “These issues will continue to be raked up by India and other like-minded countries at every possible opportunity at the WTO,” one of the sources said.

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Financial Express, 27 June, 2022, https://www.financialexpress.com/economy/india-seeks-new-benchmark-for-farm-subsidy-at-wto/2573489/


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