India to push for permanent solution to food security at WTO
The organisation had accepted India's demand to breach its food subsidy limit till an agreement was reached.
Prime Minister Narendra Modi on Thursday pitched for a permanent solution to the ongoing food security and agriculture subsidy deadlock at the World Trade Organisation's ministerial conference which will be held in Nairobi in December, reported Press Trust of India.
Last year, following a long impasse, India and the United States reached an understanding at the WTO that they would find a permanent solution to the issue of public stockholding, which is vital to ensuring food security in India.
The WTO caps subsidies for developing countries so that global prices are not adversely affected. The issue arose out of concerns that India would need to breach the WTO's subsidy limit to feed its poor. India had thus proposed either amending the formula to calculate the food subsidy cap, which is currently based on prices from 1986-88, or allowing the country to act outside of the limitation.
The organisation had accepted India's demand to breach the limit till a permanent solution was found.