The Hindu Business Line : Successful failure

The article "False step on Doha" (Business Line, June 29) serves as a gentle reminder that Mr Sharma should not undo things strategically done by his predecessors.

Without going into the right or wrong of the 123 negotiations, the colossal consensus is the fact that a delayed signing would have meant more bargaining power for India. India could have acquired new strengths had the 123 deal been signed after the official announcement of the global financial crisis.

Similarly, India has been heralded as the leader of the developing countries in the WTO rounds. It has been articulating best the need for a balanced domestic-foreign trade model without allowing foreign trade to overdrive national economy. To deviate from this stand and succumb to US trade pressure will result in India (read developing countries) losing bargaining power. After having built leadership in WTO negotiations, it is not wise for India to dismantle the existing stand. If it does, it will result in a successful failure.

S. Vaidhyasubramaniam, Dean, SASTRA University, Thanjavur