India did not want trade talks to collapse: Anand Sharma
India says that it is looking forward to find a middle ground in the global trade talks for a "fair solution acceptable to all parties". Commerce and Industry Minister Anand Sharma said this in a press conference organized in Washington after attending a meeting organized by USIBC. He said that New Delhi never wanted the talks to collapse.
Mr. Sharma expressed the confidence that a common meeting ground would be found to provide a level playing field to the developing countries.
Mr. Sharma told US Secretary of State Hillary Clinton that, "While a perfect solution may be elusive, it should be possible to find a fair solution acceptable to all parties, while keeping in mind that development was central to the Doha Round".
He accepted that there were problems with the talks but now it is a "thing of past" and it is the time to pick up from where negotiator had left off.
Sharma also warned against protectionist measures in the wake of the global economic crisis. "Any kind of protectionism will not only be counterproductive, but deepen the recession and delay the recovery," Sharma told reporters.
He was of the view that there was a lack of comprehension and information in the US particularly about the services sector which forms a major component of Indian exports.
"What is perhaps not fully appreciated is that the outflow of services is evenly matched by the inflow of services," he said.
"Do not forget, if India is such a huge IT industry, where does the hardware come from. That is why any protectionist barrier is dangerous."
Referring to a report he released on Wednesday, Sharma said the Indian industry brought in over $106 billion in economic activity to the US last year and created 300,000 jobs. Indian IT industry alone has created 250,000 jobs in America.
"It is reciprocity, which has to be acknowledged and appreciated," he said.
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