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'WTO agreement not bad for economy'

S B Sharma, former executive director, National Bank for Agriculture and Rural Development (Nabard), says that there is no threat to the Indian economy from the World Trade Organisation agreement.

"There is nothing to fear from the WTO as the country has initiated moves to protect its interests," Sharma said.

"The economy will grow at a faster pace, if the government takes adequate steps to make the industry and people of the country aware of the positive benefits of the agreement," Sharma said.

Dismissing fears that the economy would collapse due to the WTO agreement, Sharma claimed that negative subsidy and ratification of the rate of duties on export and import of goods had already started bearing fruit.

He said that to boost exports the government was searching for markets in the developing world including neighbouring countries.

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