|Rediff India Abroad Home | All the sections|
Industry wary of sectoral tariff cuts
August 25, 2003 19:49 IST
The Indian industry on Monday expressed its reservations on sectoral tariff reductions proposed at the World Trade Organisation saying there was a need to step up reforms in some sectors before exposing them to international competition.
This was conveyed to the Commerce and Industry Minister Arun Jaitley during a meeting on WTO with the Confederation of Indian Industry.
"In seven sectors - auto components, textiles, gems and jewellery, fishery, leather products and electrical goods - the industry has expressed some reservations and were of the opinion that there is a need for stepping up reforms in some sectors before they are exposed to international competition," Jaitley said.
The CII team briefed the minister on the contentious issues of market access including agriculture market access and subsidies, Trade Related Intellectual Property Rights and public health, services and Singapore issues on investment.
Jaitley pointed out that there was gradual convergence between the government and the industry on contentious issues."Sectors should be negotiated and non-tariff barriers eliminated," CII told the minister, according to a statement by the chamber.