India in the Limelight Again

Yet again India has proved to be one of the bigwigs in the global arena. This time rubbing shoulders with the US, our very own Commerce Minister Kamal Nath will be the co-chairman of the powerful group of 14-members on services at the World Trade Organization.

Indeed India has carved a niche for itself where it can recommend the roadmap for opening up services and providing access to major service providers to developed countries’ markets.

I feel that it’s time for India to lead the other developing nations and press for greater access to western markets and liberalization of norms for movement of personnel under mode one and four. And I don’t have an iota of doubt that the all-powerful Five Interested Parties (FIPs) group will not turn a deaf ear to it.

This could also give a fillip to the on-going negotiations on services at WTO that are currently progressing at a sluggish pace. Even the US and the West Bloc have to understand that the barriers put up by western economies to restrict provision of cost-competitive and quality services to firms in US and European destinations have to go. Unless it is a win-win situation for both the blocs, a breakthrough in the stalled talks cannot be achieved.

I strongly feel that govts of all the nations have to see things from the point of view of the Exim community which is actually affected. Any decision they take will have to make the business operations easier for Export-Import Inc. Although current signs are positive, several loopholes are yet to be plugged.

The exporter brings in a huge cache of revenue, and it’s the government’s duty to see that the atmosphere is conducive for the exporter. Mr. Nath I hope you are listening!