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Options before India: Reforms, more bilaterals

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  • Post the talks shutdown, the options before developing countries like India would be to continue internal economic reforms and go for signing more bilaterals agreements with like-minded nations.

    With any milestone for striking a deal pushed back, India can go ahead and sign country-specific bilateral agreements or what the economists call ‘The WTO plus’.

    ‘‘The bilaterals should continue, which will add to WTO agreements,’’ says economist Bibek Debroy. Debroy suggests that India should continue on its internal reforms especially related to the agriculture sector till the government restart negotiations. ‘‘The agriculture and rural sector reforms should be expedited in the next few years so that the sector can face global competition,’’ he suggests.

    ‘‘These talks are going nowhere because the US and the EU refuse to stop dumping by cutting real money from their agricultural support, while demanding that developing countries continue to open up their markets,’’ said Celine Charveriat, head of Oxfam’s Make Trade Fair campaign.

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