File photo: Parliament building in New Delhi.
The government today approved preferential market access in services sector for members of the Least Developed Countries (LDCs), under which India will not charge visa fees from employment seekers.
India's preferential treatment to the LDCs in trade in services would involve a cost of Rs 6.5 crore annually on account of waiver of visa fees and Rs 2.5 to 3 crore per annum for providing training in management and technical consultancy courses to LDC applicants, an official statement said.
"The Union Cabinet chaired by Prime Minister Narendra Modi today gave its approval for notification of preferential treatment by India to LDCs in trade in services in the WTO," it said.
The preferences will be bound with validity for 15 years from the date of notification by India.
India will notify preferential treatment to the LDCs in trade in services in respect of - market access; technical assistance and capacity building; and "waiver of visa fees for LDC applicants applying for Indian business and employment visas", it added.
It said that a generous offer in trade in services by India should win the country goodwill of LDCs.
India has already made a very generous offer to LDCs in the area of trade in goods in the form of a Duty Free Tariff Preference scheme.
"An equally generous offer in trade in services will help India preserve and consolidate its leadership position on LDC issues," it added.
The statement said given the development dimension of the Doha Round of the WTO, it is important that India makes liberal offers to LDCs in trade in services also.
Several of the LDCs are located in South Asia while majority are in Africa with whom India maintains special relations, it added.
As per the WTO mandate, decisions of the WTO ministerial meetings and requests made by the LDCs, developed country and developing country members of the WTO, in a position to do so, were to voluntarily consider providing LDCs preferential treatment in trade in services.
India has agreed for this preferential treatment in the last meeting of the WTO in Bali.