believes in Multilateralism and will work for the strengthening of the WTO with
other stakeholders said Commerce Minister, Piyush Goyal, in New Delhi. He was
part of a panel discussion at the Raisina Dialogue being held in the National
Capital from January 14 to 16th.
India has been at
the receiving end of unfair trade practices for a very long time and therefore
believes in the creation of a far more reformed rules based trading system said
the Minister. He further stated that India also believes in the strengthening
of the WTO and is one of the first four countries to pay all its dues to the
World Trade Body.
is right time now to make trade policies that are people centric says Commerce
stated that it is the right time now to make trade policies that are people
centric to be sustainable, to eliminate poverty and raise prosperity levels for
He also informed
the gathering of international diplomats that India has not imposed any curbs
on imports from either Malaysia or Turkey or any other country and it believes
in fair play and equal terms for all trading partners and if curbs are imposed,
they apply to all countries.
On the issue of the
import of goods in the ‘others’ category, the Commerce Minister clarified that
one out of four items valued at 130 billion US Dollars are in the ‘others’
category. Right classification of these imports under HSN code will only lead
to greater transparency and establish fair trading practices and make India a
fair place to do business and trade and also provide equal opportunity to all.
allows e-commerce companies to work on the marketplace model
also clarified that India allows e-commerce companies to work on the
marketplace model where buyers and sellers are free to buy and sell and follow
the rules of the marketplace and laws of the country which clearly say that FDI
in multi-brand retail will only be allowed up to 49 per cent. Surreptitious
entry by e-commerce companies into multi-brand retail, that is being
investigated by the authorities is welcome said the Minister.
informed that India is in dialogue with European Union and the United States to
sort out pressing trade issues and further expand engagement with them.