New Delhi, Dec 12 (KNN) In the opening remarks during the World Trade Organization’s Ministerial Conference in Buenos Aires in Argentina, Commerce and Industry Minister Suresh Prabhu raised that issues including the Micro, Small and Medium Enterprises (MSMEs) should be kept out of the agenda of the WTO saying that it might curtain the country’s space for policy making.

Prabhu said that the new issues that are being considered to be introduced into the negotiating agenda of the WTO, including e-commerce, investment facilitation and MSMEs.

Keeping forth Indian government’s take the Minister said that in India's view agreeing to these would be extremely onerous and would curtail our policy space to implement appropriate development policies.

Talking to KNN, Sunil Vaish, President of MSME Body Indian Industries Association (IIA) said that the Minister is well logical in putting forth this stance.

Sunil informed that the dedicated Ministry of Micro, Small and Medium Enterprises, headed by Giriraj Singh is there in place to look into the matters of the sector and despite concerns, there is an ongoing dialogue between the stakeholders and the government.

Merging MSME into the WTO list of issues and negotiations might not be in the best interest of the MSMEs as it might lead to blanket policy for MSME member nations, at a time when the domestic MSME structure needs a tailored policy approach.

Vaish further said that the sector is facing challenges due to different reasons including the new taxation, in such a scenario, conforming to an international set standard and norms would not be very viable for the sector.

Earlier, Minister for Commerce and Industry, Suresh Prabhu during his media interaction at the World Trade Organisation (WTO) Ministerial Conference (MC) in Buenos Aires in Argentina spoke on different issues.

The Minister called for a balanced approach to agendas including the agricultural support. The Minister said that WTO’s approach should be more of a reformative process and not an imbalanced strategy between developed and developing countries.

He made the following remarks referring to the matter of subsidies. (KNN/ DA)