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By Our Special Correspondent
NEW DELHI, MARCH 31. India today moved one step further towards opening up trade and meeting its commitments to the World Trade Organisation (WTO) by removing quantitative restrictions on 69 more products. Simultaneously QRs on five export products have been lifted. Disclosing this here today at a press conference after releasing the Exim Policy 2003-04, the Commerce and Industry Minister, Arun Jaitley, assured that all commitments to the WTO would be met even as the process of seeking liberalisation for movement of professionals at this forum would continue. Asked about the problems being faced by IT professionals in various countries recently, he said the Government had already taken up the issue of movement of natural persons at the services negotiations in the WTO. He noted that visa has been a problem both at bilateral negotiations and at service sector negotiations in the WTO. On lifting of QRs, he said import of 69 items including animal products, vegetables, spices, antibiotics and films had been removed from the restricted list. In addition, QRs on five export items have been lifted — paddy except basmati, cotton linters, rare earth, silk cocoons, family planning devices except condoms. Replying to questions, he also sought to downplay the impact of Chinese goods into the Indian market. He pointed out that exports to China had risen by a steep 86 per cent to reach over $1.25 billion. On the other hand, imports from China rose by 38.89 per cent and touched $1.99 billion during April to December 2002. He estimated that exports to China amounted to 3.3 per cent of the country's total export basket. Besides, safeguard measures had already been taken where it was felt that countries like China were dumping goods at lower prices and distorting market prices.
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