India doesn't subsidize exports, follows WTO rule : Suresh Prabhu

Posted by Daily Shipping Times on 11-07-2018        Tweet

NEW DELHI: Commerce Minister Suresh Prabhu  sought to dispel the charge of some developed countries that India subsidized its exports and said the Government was merely trying to mitigate the adversities of the exporters, which did not tantamount to subsidizing of exports from India, specifically farm products.

"It is a misconception that we subsidize our exports. We are fully WTO compliant and not at all violating those", Prabhu said recently.

He said that the Developed OECD countries were giving more subsidies to their farmers, particularly in the export of agriculture products.

Talking about agriculture exports, he said when India exports its agriculture products to other countries; those importing nations deter themselves from subsidizing those items. The Minister said it was important to provide market access to the farmers for which the highest standard of safety was needed to overcome the non-tariff barriers (NTBs).  "The Commerce Department is already working on the development of standards. The standard in the Western countries is very high," he said adding that if the highest standard was not adhered to, it would be difficult to do exports, he added.

Mr. Prabhu also said that the Ministry was also working on preparing an Integrated Logistics Plan to reduce costs and increase speed and efficiency.