India's stand on WTO puts into doubt its credibility: Congressmen

Tags: News
Two influential American lawmakers have criticised India for digging its heels in on the Trade Facilitation Agreement this week in Geneva, resulting in the collapse of World Trade Organisation (WTO) negotiations and said that this has put New Delhi's credibility "into doubt".

"India's actions last night to bring down implementation of the Trade Facilitation Agreement are completely unacceptable and put into doubt its credibility as a responsible trading partner," US House Ways and Means Committee Chairman Dave Camp said.

"As we determine next steps, I am committed to the WTO as an institution, and I hope that we can salvage the Trade Facilitation Agreement, either with or without India," he said in a statement.

"It's one thing for a country to be a tough negotiator. It is entirely another to agree to a deal with your trading partners, and then just simply walk away months later, insisting instead on one-sided changes," said House Ways and Means Committee's Trade Subcommittee Chairman Devin Nunes.

"That's what India has done here by going back on its word, running the risk of eliminating any sense of good will toward it," Nunes said.

EDITORIAL OF THE DAY

  • Allow 100 per cent FDI in asset reconstruction companies

    The asset reconstruction business is 13 years old and still struggling like a toddler.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Nigavekar

Moocs will not replace traditional education

I am revisiting the topic of massive open online course ...

Rajgopal Nidamboor

From complexity to prudent adaptability

It is a travesty that a host of new, strikingly ...

Dharmendra Khandal

Creepy, you say? That’s merely ophidiphobia

Snakes are the earliest predators in the life of the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture