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Home  » Business » India may relax service norms under WTO

India may relax service norms under WTO

By BS Economy Bureau in New Delhi
February 23, 2005 13:37 IST
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Commerce and Industry Minister Kamal Nath on Tuesday said India was willing to consider flexibilities in Mode 2 and 3 of services under the World Trade Organisation.

India, which has been seeking flexibilities in Mode 1 and 4, has already said it is willing to revise its offer on services before the World Trade Organisation deadline of May 2005.

Mode 2 pertains to consumption abroad where a consumer of a service moves into the territory of another country like in tourism.

Mode 3, implies commercial or territorial presence of a service supplier in another country in the form of a joint venture, subsidiary, representative or branch office.

Mode 1 pertains to cross-border supply, while Mode 4 pertains to movement of natural persons.

Nath said a group of lawyers had already been appointed to look into the opening up of legal services.However, in the case of certain services like accountancy, the government is seeking reciprocity from other WTO member countries.

Nath said he would attend the WTO mini-ministerial in Kenya on March 3, a precursor to the G-20 meeting in New Delhi on March 18.

"The ministerial in Kenya will be the first proper meeting on WTO after the July declaration," he said, adding that a paper on agriculture would be prepared at the G-20 meeting.

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BS Economy Bureau in New Delhi
Source: source
 

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