By Abhijit Neogy/CNBC-TV18

The World Trade Organization has released revised texts for negotiations in agriculture and non-agriculture market access, or NAMA. While India is broadly happy with the agricultural text, it finds the NAMA text unacceptable in its current form.

The Commerce Ministry says there are more points of convergence in the revised agricultural WTO text. "The WTO agricultural text asks India to cut tariffs by 70% and asks developing nations to ease tariffs by up to 36%."

In the agricultural market access text, the areas of divergence have come down from 130 to 30 issues. WTO has called upon the US to cut agricultural tariffs by at least 70%. It has designated 8-20% of tariff lines as special products for developing countries, which are subjected to lesser cuts. It also wants 20% of agricultural lines to be special products.

India is unhappy with norms regarding special safeguard mechanisms and will renegotiate these mechanisms, the Ministry said. "This text is unacceptable in the current form. The text creates more problems than offers solutions. The provisions are implementable only if domestic product prices fall 30%. WTO wants a price trigger of 5% on the Special Safeguards Mechanism provisions."

The ministry said the points of non-convergence have been increased to 97 in the NAMA text. "It asks developed countries to undertake lesser cuts on industrial tariffs. The NAMA chairman is trying to break NAMA 11 by giving special incentives to South Africa."