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India lashes WTO, defends decision on failed trade deal

NEW DELHI, August 5, 2014 (AFP) - India on Tuesday defended its decision to scuttle a landmark worldwide trade deal, saying it needed to take a tough stand at the WTO to ensure the survival of its impoverished farmers.
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Trade Minister Nirmala Sitharaman also lashed out at the World Trade Organization, accusing it of foot-dragging on negotiations to give the green light to India's stockpiling of food.
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India's new right-wing government last week refused to ratify the long-sought global deal on streamlining customs rules, despite WTO members agreeing to the terms of the accord at a meeting in Bali last year.

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The deal, the first global reform of trade in years which needs the agreement of the WTO's 160 members, would add $1 trillion and 21 million jobs to the world economy, according to some estimates.

But India insists that the deal should be concluded as a "package" alongside a permanent agreement on stockpiling food to feed its millions of poor people.

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"India stood firm on its demands despite immense pressure," Sitharaman told parliament as lawmakers thumped their desks in approval.

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"The government of India is committed to protecting the interests of our farmers against all odds," said Sitharaman

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