"I believe the way forward is for developed countries to adhere to promises made. They should scale down agricultural subsidies and allow greater market access to merchandise exports of developing countries and not deny access through various non-tariff barriers and all others forms of restrictions," Finance Minister P Chidambaram said in Dusseldof.
Speaking at a function organised by the Indo-German Chamber of Commerce, Chidambaram said the WTO process could move forward only if developing countries get increased access to markets of developed world.
Answering queries of Indian and German businessmen, he said India was "willing to make reasonable offers" for greater market access.
"We are willing to make reasonable offers in every sector, including services. But in return, we must get greater market access and we must be able to export our agricultural products to developed countries," Chidambaram said.
The Finance Minister said that India was "prepared to go the extra distance" that was necessary to reach a proper accord. "But if we walk the extra distance, is it not fair to ask other countries also to walk that extra distance in order to reach an agreement," he questioned.
Chidambaram said that it was "widely accepted" that the earlier round did not bring benefits to the developing countries as was promised and expected.
"There are left-over issues from the earlier round and there are new issues that have been identified as Singapore issues," he said, adding that India was willing to take the process forward in at least two of the four new issues.
He, however, said there was a need to address the left-over issues from the previous rounds. "The process can be taken forward only if developing countries see to WTO talks as giving them tangible material benefits," he said.
He said last time the talks failed as countries could not agree on the issue of cotton. "If it was cotton last time, it can be something else this time," he said, adding that greater market access and removal of agricultural subsidies was the only solution.
However, despite the reservations, he said the WTO process was important for India. "We believe that India needs the WTO more than the WTO needs India... let me assure you, India is committed to WTO process," he added.