इंडियन आवाज़     23 Jul 2018 01:35:57      انڈین آواز

India does not subsidise exports,complies with WTO norms: Prabhu



Union Commerce Minister Suresh Prabhu has said that India does not subsidise its exports and the country fully complies with World Trade Organisation norms. Speaking at an event here yesterday, Mr Prabhu said that the government was merely trying to mitigate the adversities of exporters, which did not tantamount to subsidising of exports from India.

Speaking at another event, the Commerce Minister said that the very existence the World Trade Organization is now under threat, but India strongly supports its need for regulating trade norms. He said, if there is no WTO, all countries will face problems and there will be chaos. He said India strongly feels that WTO is a must as it guarantees rules and regulations of world trade but admitted that reforms within the global trade body were also needed.

The Minister said India is also trying to forge a number of bilateral trading agreements with Latin America, Africa, ASEAN, Europe, the UK, central Asia, GCC, Far East and China.

Mr Prabhu, who is also the Civil Aviation Minister, said that the Ministry is preparing separate plans for the manufacturing of drones and planes in the country.

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