India needs to tread carefully without losing sight of its core trade-related priorities. Given the dark protectionist clouds arising from the trade war, India faces several challenges in agriculture, industrial goods, and services. Its main adversary in global farm trade remains the US which has repeatedly undermined New Delhi’s developmental initiatives for reforming rules governing global farm trade.
Washington has repeatedly blocked multilateral instruments such as the special safeguard mechanism and the permanent solution for public stockholding programmes for food security.
Recently, the US, at the behest of its powerful farm trade lobbies, alleged that India’s farm support programmes for rice and wheat breached its World Trade Organization commitments.
Consequently, India needs to build a strong alliance with China and other developing countries facing similar threats to their agriculture from the fat-cat farmers in the US. Read More