The World Trade Organisation will hold its first general council meeting in Geneva on October 21, to chalk out a future course of action after the collapse of trade talks in Cancun last month.
World Trade Organization Chief Pascal Lamy wants to have second term in office. He has now decided to throw his hat in the race in which he will be the first candidate to file papers.
WTO's new director general Pascal Lamy, who assumes office on September 1, on Friday selected four deputies including an Indian, Harsha Vardhana Singh, presently secretary of telecom regulator TRAI.
Japan on Friday assured India that recent clashes between the police and workers of a Japanese multinational in Gurgaon would not affect flow of investment from Tokyo, while agreeing with New Delhi that the incident was one-off.
Indian elections and subsequent political developments have come as a glitch to the process of evolving a new proposal on the contentious farm sector negotiations at the World Trade Organisation.
The proposals will be reviewed by the World Trade Organization's General Council.
India had proposed amending the formula to calculate the food subsidy cap of 10 per cent.
The decision preceded long hours of tense negotiations and last minute hiccups from Argentina and Pakistan
Earlier this year, the US accused India and China of exceeding the WTO limits on farm subsidies, saying these caused trade distortion.
Modi emphasised on deeper India-Africa partnership on clean energy.
In a turn of events, India on Friday said it was "hopeful" talks for a global deal on easing Customs norms, or a trade facilitation agreement (TFA), would be revived in September, even as it failed to meet the July 31 deadline due to lack of consensus among members over food stockholding and farm subsidies.
This was a very strong position and was criticised by many, both from the developed and developing world.
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