Recently,
the 13th Ministerial Conference (MC13) of the World Trade Organization (WTO)
was concluded. 
There are 2
key bone of contention India has with the World Trade Organization as discussed
below:
1) Public
Stockholding Issue
Ø It's very
crucial for India and other developing countries to look after the food
security of its vast population.
Ø Acknowledging
the same, India has a Public Stockholding mechanism which facilitates
procurement, stockpiling and distribution of foodgrains keeping in view
domestic food security concerns.
Ø But
developed nations are of the view that such a mechanism of public stockholding
which supports producers at procurement stage may result in growing food
security concerns in other countries defeating the essence of multilateralism.
Ø To
understand in detail about India's public stockholding mechanism, visit https://www.
Here above,
I have explained in detail about the Public Distribution System of India.
2)
Fisheries Subsidies
Ø India has
vast coastal lines on which the livelihood of millions of fishermen depends
upon.
Ø To support
the same, India has a subsidy mechanism in the fisheries sector, to look after
the livelihood and food security of fishermen.
Ø The
developed WTO members here are of the view that these subsidies lead to distant
water fishing and overfishing. To promote sustainable fishing, these subsidies
should be eliminated.
Some Facts
According
to Commerce and Industry Ministry, Piyush Goyal at MC12, WTO in 2022,
·
India has close to 9 million fisherman families
·
For every Fisher family, India barely provides a $15
subsidy in a year,
·
whereas there are few developed nations which provide
$42000, $65000 and $75000 per fisherman family.
#wto #mc13 #trade #india #economy #subsidy #agriculture #publicstockholding #fisheries #2024 #worldtradeorganization
There are 2
key bone of contention India has with the World Trade Organization as discussed
below:
1) Public Stockholding Issue
Ø It's very crucial for India and other developing countries to look after the food security of its vast population.
Ø Acknowledging the same, India has a Public Stockholding mechanism which facilitates procurement, stockpiling and distribution of foodgrains keeping in view domestic food security concerns.
Ø But developed nations are of the view that such a mechanism of public stockholding which supports producers at procurement stage may result in growing food security concerns in other countries defeating the essence of multilateralism.
Ø To
understand in detail about India's public stockholding mechanism, visit https://www.
Here above,
I have explained in detail about the Public Distribution System of India.
2) Fisheries Subsidies
Ø India has vast coastal lines on which the livelihood of millions of fishermen depends upon.
Ø To support the same, India has a subsidy mechanism in the fisheries sector, to look after the livelihood and food security of fishermen.
Ø The
developed WTO members here are of the view that these subsidies lead to distant
water fishing and overfishing. To promote sustainable fishing, these subsidies
should be eliminated.
Some Facts
According to Commerce and Industry Ministry, Piyush Goyal at MC12, WTO in 2022,
· India has close to 9 million fisherman families
· For every Fisher family, India barely provides a $15 subsidy in a year,
·
whereas there are few developed nations which provide
$42000, $65000 and $75000 per fisherman family.
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