India will ask for full market access in UNCTAD meeting next week
Upon a series of meetings earlier this week, including a group of ministers as well as Cabinet Committee on Economic Affairs,
India's stance and strategy in the 11th United Nations Conference on Trade and Development (UNCTAD) meeting which will be held next week in Sao Paulo,
Brazil on trade negotiations is determined.
Accordingly
India, Asia's third largest economy, will be pushing for full market access into countries that
India exports most, such as the US and EU to where over 50% of exports are made. In line with
India's aim to become an export base, protection of mainly
manufacturing and agricultural sectors matters most. By the way, protection of non-agricultural sectors that create employment are also on the agenda.
As a reward for the demand of G20 countries from developing countries to reduce farm subsidies,
India suggests full market accession in order not to counter its aim.
It is reported that
India will carry on its attempts to form a strategic alliance with other developing countries, within G20.