The World Trade Organization (WTO) Agreement on Indian Agriculture has been a topic of much debate and discussion in recent years. The agreement, signed by India in 1995, has had a significant impact on the country`s agricultural sector and its policies.
The agreement was signed as part of the Uruguay Round of negotiations and aimed to liberalize global trade in agricultural products while ensuring fair and equitable treatment for all countries. As per the agreement, India had committed to reduce its agricultural subsidies and tariffs over time.
However, since its implementation, the agreement has been a matter of concern for many in India, especially the farming community. Critics have argued that the agreement has led to a surge in imports, which has hurt domestic farmers` income. Additionally, the reduction in subsidies has made it difficult for farmers to compete in the global market.
The Indian government has tried to address these concerns by implementing various policies and schemes, such as minimum support prices and crop insurance. However, these initiatives have not been sufficient to address the challenges faced by farmers.
In recent years, there has been a growing demand for a review of the WTO agreement on Indian agriculture. The government has been pushing for a shift in the focus of the agreement to address the concerns of developing countries and ensure that global trade is more equitable.
One of the key issues that have been raised is the need for a special safeguard mechanism (SSM) that would allow developing countries to impose duties on agricultural imports when they face a surge in imports or a drop in domestic prices.
India, along with other developing countries, has been seeking the inclusion of an SSM in the WTO agreement on Indian agriculture. However, developed countries have been opposing this move, citing concerns over protectionism and trade distortion.
In conclusion, the WTO agreement on Indian agriculture has had a significant impact on the country`s agricultural sector. However, it has also been a source of concern for many, especially farmers. While the government has taken steps to address these concerns, there is a growing demand for a review of the agreement to ensure that global trade is more equitable and does not hurt the interests of developing countries. The inclusion of a special safeguard mechanism may be a step in the right direction.