India is in favour of reducing tariffs on products such as textiles to 5 per cent in return for a duty-free access for its products in foreign markets.
Senior government officials told Business Standard the matter was discussed at an inter-ministerial group (IMG) meeting on non-agriculture market access on Wednesday.
Members of the IMG also pointed out that the duty harminisation scheme, which dealt mainly with the tariff levels of around 5 per cent, was aimed at pushing the agenda of developed countries and did not stand to benefit developing countries.
Armed with the inputs from the IMG meeting, the commerce ministry will now approach the Cabinet committee on the World Trade Organisation (WTO) to frame its strategy on the draft modalities circulated by the multilateral body in Geneva.
India has opposed the non-linear formula forwarded by the WTO.
Officials added that duty reduction to a level of around 5 per cent would help Indian textiles products compete with exports from the least developed countries which enjoyed preferences in the developed and developing country markets.
