Allow India to export foodgrains from public stock to needy nations: FM Nirmala Sitharaman to World Trade Organization
The Hindu
Finance Minister Nirmala Sitharaman was speaking at a seminar on 'Strengthening global collaboration for tackling food insecurity' on sidelines of the third G20 Finance Ministers and Central Bank Governors meeting in Bali, Indonesia.
Finance Minister Nirmala Sitharaman on July 15 asked World Trade Organization (WTO) to allow India to export foodgrains from its public stockholding to nations which are facing food crisis.
She was speaking at a seminar on 'Strengthening global collaboration for tackling food insecurity' on sidelines of the third G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Bali, Indonesia.
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As per WTO norms, countries are not allowed to export foodgrains from their public stock holdings as they are procured at subsidised rates.
"WTO restriction that grains so procured cannot be brought to the market to export. It is a condition which exists from the Uruguay Round days. We have repeatedly said that (surplus) than what we have for our small farmers...we are quite willing to trade," Ms. Sitharaman said.
She said that India can help in reducing hunger or food insecurity but there is a hesitation on the part of WTO. Many countries in the world are currently facing food shortage due to ongoing Russia-Ukraine war.
A group of about 70-80 countries, led by Singapore, is pushing member countries of the WTO to accept binding commitments of not extending export restrictions on the foodgrains procured under the United Nations World Food Programme (WFP).