India believes that more work is required to be done to formulate the draft text for a "practical" and "implementable" Arms trade Treaty (ATT), an official statement said here on Thursday.
"A number of delegations, including India, felt that the draft text needs further work and a treaty of this kind, which would be legally binding when in force, should not be rushed through," the statement said.
Earlier between July 2-27, a diplomatic conference was held at the United Nations to negotiate the ATT. Though considerable progress was made, an agreed text could not be adopted.
Further the statement said, "It is important to bring all stakeholders on board in a manner that promotes the prospects of a treaty that is practical and implementable and is able to attract universal adherence."
India believes that ATT should make a real impact on preventing illicit trafficking in conventional arms and their diversion to terrorists and other non-state actors.
"The treaty should establish a balance of obligations of exporting and importing states and ensure that national implementation and domestic jurisdiction are fully respected. From India's point of view, we are prepared to engage in further work in a consensus based process and outcome" it said. (ANI)