Commerce and Industry Minister Kamal Nath said that the Doha Round of world trade discussions is closer to conclusion.

“It is closer than ever before to being closed,” Mr. Nath said.

While lecturing at the Fortune Global Forum, a meeting of superior Fortune 500 CEOs, Nath sounded out, “I believe the Doha Round can be closed successfully by respecting each other’s sensitivities. I understand the United States has sensitivities on certain issues. On the other hand, a large number of developing and vulnerable economies also have some concerns that need to be respected.”

Henry Paulson, US treasury secretary, who also addressed the meeting, told that the Doha Round is the single vital topic on which both the United States and India can get together.

“Advanced developing countries like India, Brazil and South Africa are important for the round. We have seen that in India de-regulated sectors like airlines and telecom are doing very well. Granting extra market access in industrial goods (NAMA) will benefit developing countries like India,” Mr. Paulson added.