India’s Stance on WTO Reform
The Agricultural ‘conundrum’ at the WTO and India’s position
- According to the WTO’s Agreement on Agriculture, the Minimum Support Price (MSP) would have to be calculated on the basis of price of foodgrains in 1986-88 and the total subsidy would have to be below 10 per cent of the total value of production.
- India has strongly disputed this formula because the current prices are much higher and hence the total MSP given as subsidy would also be higher.
- Countries like India and China have opposed the huge production related price distorting subsidies given by the developed countries like the US and ....
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