Trade Orientation Urged for Indian Agriculture
NEW DELHI - Jul 9/14 - SNS -- India needs to acknowledge that current agriculture policies hinder trade and change direction so as to encourage the sector to grow, argues the Ministry of Finance's Economic Survey for 2013-14.
"On domestic and international marketing," the report argued, "the plethora of government interventions that were used to build a marketing set up have actually served as barriers to trade. Removing market distortions will create greater competition in markets, promote efficiency and growth and facilitate the creation of a national agricultural market."
One of the key recommendations coming from that observation was the India should replace non-tariff trade barriers with tariffs. It is envisioned that such a change would add transparency to markets and create a more stable trading environment.
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