Nobel laureate economist Joseph E Stiglitz is here in India. Speaking on the move the Indian government ought to take vis a vis the United States government’s subsidies on cotton, Stiglitz was quoted as saying, “Rather than engaging in activities such as shutting down NGOs, it will be much more constructive for the country if the Indian government challenged the United States government’s subsidies on cotton which tends to hurt cotton growers in India.
India is one country that is worst affected by subsidies for cotton in the United States, but unlike Brazil, it has not challenged the American government on this. If New Delhi manages to that and takes on the US on this issue, it will have a positive effect on the global community, Stiglitz reportedly added.
Stiglitz was speaking at a discussion organised by Azim Premji University on ‘Global Inequality: Causes and Consequences’ in Bengaluru yesterday.
The Nobel laureate said that the US would rather walk away from trade talks than get rid of its agricultural subsidies. This has been a major barrier to removal of agricultural subsidies.
