August 19, 2014 8:14 PM

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India hopeful of solution to food stockpile issue at WTO negotiations

India is hopeful of a solution to the food stockpile issue at the WTO negotiations beginning next month at Geneva. A Commerce Ministry official said in New Delhi that India will continue with its stand on finding a permanent solution on the food grain stock pile issue. The official also said that India has placed all options before the WTO and things can be worked out within a month on the food security issue.Commerce and Industry Minister Nirmala Sitharaman, at WTO Geneva talks last month had said that India will not compromise on the interest of poor farmers and consumers. She had sought complete resolution of the food grain stockpile issue, which is essential for unhindered implementation of the country's food security programme. She said that without a permanent solution, public stock holding programmes in India and other developing countries will be hampered by the present ceiling on domestic support which is pegged at 10per cent of the value of production.India had decided not to ratify WTO's Trade Facilitation Agreement which is dear to the developed world, without any concrete movement in finding a permanent solution to its public food stock-holding issue. India has asked the WTO to amend the norms for calculating agri subsidies in order to procure food grains from farmers at minimum support price and sell that to poor at cheaper rates without attracting any penalty in the WTO.

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