Speaking at the Graduate Institute here yesterday, she said a successful resolution of this issue without any undue concessions, compromise or unreasonable conditions would send out a strong signal that trade openness and addressing hunger need not be in conflict.
She also said India has often been perceived as being less than enthusiastic towards new issues such as e-commerce in the negotiations and is even sometimes accused of standing in the way of the WTO's progress.
"Now, we must take the matter forward to its logical conclusion and bring about a permanent and lasting solution so that developing countries such as India have the freedom to use food reserves to feed their poor without the threat of violating any international obligations," the minister said further.
Developed countries, including the US, are pushing for inclusion of certain new issues like investment facilitation and e-commerce in the World Trade Organisation (WTO) agenda.
"What is the rationale for new issues when agreed issues well understood and critical to the world community are languishing. In contrast, new issues are yet to be fully understood," Sitharaman added.
Procurement and public stockholding for food security are invaluable instrumentalities used in developing countries where agriculture is mainly rain-fed and markets are imperfect and not integrated.
The food security issue concerns several developing nations which provide subsidised foodgrains to their poor.
A peace clause exists till a permanent solution is found for the food stockpiling issue. This clause has enabled India to continue procurement and stocking of foodgrain for distribution to the poor under its food security programme without attracting any kind of action from WTO members even if it breaches the 10 per cent subsidy cap as prescribed by the multilateral trade body.
This is an issue of interest not just for India, but for a large number of other developing countries, she said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
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