In Geneva, the World Trade Organization (WTO) held a conference. The agricultural subsidy offered to Indian farmers was opposed by America and European nations at this meeting. The agricultural subsidy includes Prime Minister Narendra Modi's annual grant of Rs 6,000 to farmers.
In such a circumstance, America and Europe have used all of their resources to put a stop to it. On this issue, India has also refused to submit to powerful countries.
WTO meeting on 3 major issues
The WTO meeting was held in Geneva from 12 June to 15 June 2022. Ministers from 47 countries of the G-33 group of WTO comprising 164 member countries participated in this event. Union Minister Piyush Goyal joined from India's side. In the WTO meeting to be held this year, preparations have been made to bring a proposal on these 3 important issues.
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To eliminate agricultural subsidies.
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To make international laws on fishing.
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To bring new rules on Covid Vaccine Patent.
The resolution to be brought on all three topics was supported by America, Europe, and other powerful nations, however, India strongly opposed the powerful countries on all three proposals. Despite pressure from powerful countries, India has refused to eliminate agricultural subsidies. In this case, India now has the support of 80 countries.
America's grain sales decreased, hence India's opposition
Agricultural Subsidies: America and Europe want India to end all types of agricultural subsidies given to farmers.
This includes all these agricultural subsidies:
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6 thousand rupees given annually under PM Kisan Samman Nidhi
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The subsidy is given on urea, fertilizer, and electricity
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The subsidy is given as MSP on food grains
Powerful countries such as the United States think that Indian farmers produce a lot of rice and wheat because of government subsidies. As a result, India's grain is inexpensive on the international market.
Due to the high price of grain in America and European countries, its sale is less in developing countries. This is the reason why powerful countries want to stop India from giving agricultural subsidies to dominate the world grain market. India is not ready to accept it.
India got the support of 80 countries along with China in WTO
Even though the armies of India and China are face to face on the LAC over the border dispute, both India and China have come together in the matter of the proposal presented against the subsidy in the WTO. In this matter, India is getting the support of 80 member countries of WTO.
This is not the first time that two big countries of Asia, China, and India have come together against the rules of WTO. Earlier on July 17, 2017, both the countries together opposed the western countries in the matter of subsidies to farmers. China also gives government assistance, ie subsidy, of more than Rs 17 lakh annually to its farmers.
