MUMBAI, India – India and the United States reached an agreement Thursday over food stockpiles, removing a major obstacle to a global trade deal that has been stalled for months.
The pact, which precedes a meeting this weekend of the Group of 20 major economies, allows India to continue its extensive food subsidy program. In settling the dispute, India returns to the negotiating table on a broader trade package.
That package, first agreed upon at a World Trade Organization meeting in December in Bali, Indonesia, is the first significant global trade deal since the creation of the WTO nearly two decades ago.
U.S.-India Agreement on Stockpiles of Food Revives a Trade Deal
Rajrishi Singhal, Senior Geo-economics fellow, Gateway House, has written an article on India and the U.S. reaching an agreement that removes a key obstacle to the implementation of a global trade deal. This article was republished by Alaska Dispatch News