New Delhi: India has informed the World Trade Organization (WTO) it will ensure that the least developed countries (LDCs) get access to its market without duties or quotas.
In a presentation to the WTO Committee on Trade and Development in Geneva last week, India said it was the first developing country to offer duty-free and quota-free (DFQF) market access to the LDCs.
Indian officials present at the meeting said India was “working to ensure that the (DFQF) scheme provides effective market access” to the LDCs.
The Indian market has been thrown open to these countries for products of their export interest. The items to enjoy duty-free entry include cotton, cocoa, cane sugar and readymade garments. Such a facility has been offered to 14 LDCs including Bangladesh, Nepal, Bhutan, Cambodia and some of the African nations.
The WTO panel has been notified about India’s free trade agreements with Mercosur (countries comprising four South American nations, including Brazil and Argentina) and Afghanistan.