India should lobby for further opening of services in several sectors for greater market access to developing countries, according to PHD Chamber of Commerce and Industry.
India, with its huge army of skilled manpower, is in a strong position to tap overseas markets once the provisions on market access improve.
| |||||||||||
Simultaneously, competition from overseas rivals would sharpen the competitive edge of the domestic service sector.
PHDCCI said more dose of liberalisation of the service sector would help in raising efficiency of the tertiary sector and contribute to the rapid growth of the other sector.
"The country needs to give a thrust to the negotiations on non-agricultural market access," P K Jain, president, PHDCCI said a statement in New Delhi on Tuesday.
The emergence of regional groupings is placing India at a competitive disadvantage in the world's major markets, he said, "India should encourage non-discriminatory liberalisation of international trade to counter this tendency".
PHDCCI viewed the Cancun deliberations as a platform for ensuring total elimination of domestic subsidies and support to agricultural products that encourage over-production in the developed countries.
The World Trade Organisation provides an excellent opportunity to facilitate multilateral rule based trading system against the backdrop of emerging threats of bilateralism, it said.
More from rediff