India strongly protests allegations of Thailand’s subsidized rice exports.
Published on: March 2, 2024.
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Rice Emerges as a Major Point of Contention at WTO Conference in Abu Dhabi
The ongoing WTO ministerial conference in Abu Dhabi has taken a heated turn as rice becomes a central focus of debate. The tensions have escalated to a point where a full-fledged trade war could ensue, with India expressing strong objections to Thailand’s statements regarding India’s export of subsidized rice. Leading the Indian delegation, Commerce and Industry Minister Piyush Goyal has vigorously voiced concerns over the inclusion of investment in the WTO talks.
India’s Response to Thailand’s Claims
During the conference, Thailand raised the issue of India exporting subsidized rice, which has sparked a significant backlash from the Indian delegation. India has vehemently refuted these claims, asserting that their rice exports adhere to international trade regulations and do not involve any form of subsidy. The objection by India to Thailand’s comments has set the stage for a potentially intense trade dispute.
Objection to Inclusion of Investment in WTO Talks
In addition to the rice trade controversy, the Indian delegation, led by Commerce and Industry Minister Piyush Goyal, has raised objections to the inclusion of investment in the discussions held at the WTO ministerial conference. India maintains that investment should not be part of the core agenda of the WTO, arguing that it falls outside the organization’s mandate. This objection has further fueled the growing tensions at the conference.
The Importance of Rice in Global Trade
Rice plays a crucial role in the global trade landscape, with countries like India and Thailand being major players in the market. Pakistan, another prominent rice exporter, is closely monitoring the developments at the conference. As one of the largest rice exporters in the world, Pakistan’s rice industry holds significant economic importance.
Looking Ahead
As the WTO ministerial conference progresses, the focus on rice exports and investment in the talks will undoubtedly shape the future of global trade. The rhetoric between India and Thailand regarding Indian rice exports and the objection to investment inclusion adds to the complexity of the situation. The outcome of these discussions will have far-reaching implications for rice suppliers, exporters, and the global rice market as a whole.
Source: [Business Today](https://www.businesstoday.in)
