Parliamentary panel seeks public views on trade pacts, industrial policy

NEW DELHI: The Parliamentary Standing Committee on Commerce today sought public suggestions on issues related with free trade agreements and industrial policy in changing global scenario.

The suggestions may focus on issues like benefits and disadvantages, if any, that have accrued on account of signing free trade agreements ( FTAs) with various countries and regions, an official release said.

Suggestions may also focus on matters like "ways and means to promote domestic agriculture as well as strengthen local industries through FTAs; role of FTAs in flow of investments and capacity creation".

Views on extent of sensitivity observed towards climate and environment in FTAs, flaws/discrepancies if any, prevailing in the present architecture of FTA and remedies have also been invited.

The committee, headed by Rajya Sabha MP Shanta Kumar has also taken up another subject - 'Industrial Policy in the Changing Global Scenario'.

The comments may focus on issues like threats and opportunities before the current Industrial Policy in the face of changing global scenario; efficacy of the Policy in infusing competitiveness to enable India become a global trading power.

Besides, they may include views on structural reforms desired in present industrial policy especially in view of its role in creation of investment friendly atmosphere and gainful employment; quality of infrastructure and financial services required and its fine tuning with the Industrial policy, it said.

Views can be sent either in English or Hindi on the subjects within 30 days from January 3, the release said.