(a) whether the Globalisation of trade is under threat as the rich countries are protesting it vehemently;
(b) if so, whether they also managed to wreck the World Trade Organisation Ministerial meeting in Seattle;
(c) if so, the details thereof; and
(d) the steps taken or proposed to be taken by the Government to put the economy of the country on the rails if such countries do not participate in the process of development and to keep pace with world economy?
MINISTER OF COMMERCE & INDUSTRY (SHRI MURASOLI MARAN)
(a) to (c) The failure of the Seattle Ministerial Conference of WTO was mainly due to wide differences on major issues between member countries. The globalization of trade was perceived as a threat mainly by some of the Non Government Organizations (NGOs), who had also staged several demonstrations against the WTO regime in the streets of Seattle on the occasion of WTO`s 3rd Ministerial Conference at Seattle, which had even delayed the inaugural session of the Third Ministerial Conference of WTO at Seattle on 30th November,1999.
(d) Indian Government is autonomously continuing with its economic reforms, including reforms in trade policy. On the other hand, in the WTO, India and the developing countries are vigorously articulating that the WTO, to progress with its work, should not have any non-trade issues in its agenda and must take on board the concerns of developing countries with regard to implementation of existing WTO agreements. India has also been effectively participating in the mandated negotiations and mandated reviews as have been built into various agreements of WTO.