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Flaws in world trading system be corrected: India November 28, 2006 15:22 IST There should not only be 'relaxation' but also 'justice' in the global trading system, Commerce Minister Kamal Nath said in Lok Sabha in reply to questions, adding the government was proceeding in the WTO talks with this objective in mind. "We feel there are strategic flaws in the globaltrading system which should be corrected," he said, hoping it will be done to allow the Doha Development Round to proceed. The Doha negotiations were suspended in July after India refused to accept certain conditions, he said, adding the impasse has been caused because of differences over the issue of subsidies, tariffs, services and rules. India has been engaged in the World Trade Organisation negotiations to ensure its 'core concerns and interests' continue to be adequately addressed at each stage of the talks, he said. India's accession to the WTO regime has brought 'some difficulties' but overall the step has been beneficial for the country, Nath said. India is witnessing high economic growth of 8.5 per cent and industrialisation has increased after it associated with the WTO system, the minister said. Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Discussion Group
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