Union minister Suresh Prabhu has said that India is facing real challenge at World Trade Organsation (WTO) and the global trading system itself, because for the first time the countries are putting roadblocks to trade and it is going to be a real issue. However, he said that the government is trying to be friendly with all the countries. In March, the commerce and industries minister had appealed to WTO members to identify common ground for strengthening the multi-lateral trade body amid challenges being faced by it following the deadlock at the Buenos Aires Ministerial.
The minister said “We are not enemies as far as trade is concerned. We want to make friendship. With China, we had huge trade deficit. I invited the Chinese Commerce Minister (Zhong Shan) to India and signed many agreements and decided not only to reduce trade deficit but (bring in) balance in trade.” He also said that the government was also talking with the European Union on the WTO issue as it was a big market place. He said “We are talking to EU about these issues. Japan, Korea, ASEAN countries. I had invited them and we decided to increase the trade volume.”
Appealing to industrialists not to depend much on the government, he said “I only wish and hope..., don't expect everything from the government. The Government is doing more than what you want. The Government can only provide umbrella support. But when it comes to business, that can be done only by you businessmen.”