Rising prices may change ‘India’s stand at WTO

ASHOK B SHARMA
Posted: Monday, Apr 07, 2008 at 0231 hrs IST
Updated: Monday, Apr 07, 2008 at 0255 hrs IST

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WTO negotiators’ meet in Geneva on Sep 14 EU seeks to settle trade row with India amicably WTO DDG tight-lipped on bio-fuel, rising prices

New Delhi, Apr 6: has reduced tariff barriers to facilitate cheap imports with a view to check the rising domestic price inflationary trend. But opening for imports at this stage would result in “importing inflation” when global prices are high.

The Chairman of the Central Organisation for Oil Industry and Trade (COOIT), Davish Jain has rightly pointed out that the major exporting countries very well know that the populous countries like India and China would import food at any cost to meet their needs and therefore would not hesitate to jack up prices.

The same has been the case with vegetable oil imports. Thus faced with such a situation the India and the developing countries would need to find a suitable alternative way in handling global trade....

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