Articles by Sanjoy Bagchi

The new Exim policy will cover five years, making it coterminus with the Tenth Plan. Since the policy is mainly concerned with export trade procedures, it can be argued that a definitive programme of improved procedures for the entire Plan period might be of assistance in achieving the Plan targets of exports. It would, however, be a pity if further improvements were held back, even when they were demonstrably needed, because of the five-year term of the policy.

India has been singularly successful in achieving its objectives in Doha - in securing primacy for implementation problems, in bringing the anti-dumping agreement to the negotiating table, in getting a waiver from the agreement on TRIPS in times of public health emergencies and creating the opportunity for protection of geographical indications and traditional knowledge, in ensuring exemption for integrated textile products from anti-dumping action and the negotiation of textile tariff peaks, in keeping core labour standards out of the purview of WTO and in postponing negotiations on the four Singapore issues. The only area where it had to compromise to some extent was in respect of trade and environment.

The paranoia in some quarters over the ending of quantitative import restrictions will be proved unfounded and will die down. There will be some difficulties initially, particularly because domestic producers have been protected for so long. In the longer run competition from producers elsewhere will be beneficial for the domestic economy. This will, however, require policy-makers and other economic agents to give up their defensive attitudes and approach positively the tasks of becoming globally competitive.