Raising the Bar
India stands at a pivotal moment in its industrial production evolution. It stands at a crossroads to redefine itself not just as a supplier of low-cost raw materials but as a trusted source of high-quality industrial components.
Commerce and Industry Minister Piyush Goyal outlined India’s reform agenda at a mini-ministerial gathering of 25 WTO member countries.
File Photo (IANS)
India has called for a decisive action against non-tariff barriers and restoration of the paralysed dispute settlement mechanism pushing for comprehensive World Trade Organization (WTO) reforms during high-level ministerial discussions in Paris.
Commerce and Industry Minister Piyush Goyal outlined India’s reform agenda at a mini-ministerial gathering of 25 WTO member countries.
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The minister emphasised the need to address trade distortions and strengthen multilateral governance ahead of next year’s crucial ministerial conference.
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While speaking to reporters, Piyush Goyal articulated India’s three-pronged approach to WTO modernisation.
“India made a strong pitch for addressing non-tariff barriers that certain countries use to deprive others of market access, taking necessary action against non-market economies, and ensuring we have a strong dispute settlement mechanism,” he said.
Further, the minister expressed scepticism about Multi-Party Interim Appeal Arbitration Arrangement (MPIA) effectiveness saying while some members have promoted the Multi-Party Interim Appeal Arbitration Arrangement as an alternative.
“Only one or two members spoke about that, but there doesn’t seem to be much consensus or traction to that idea. I haven’t heard of any cases resolved through MPIA,” he noted.
At the meeting, India firmly rejected attempts to expand the WTO’s mandate beyond traditional trade issues, particularly opposing the China-led Investment Facilitation for Development (IFD) proposal backed by 128 countries.
Piyush Goyal argued that such initiatives would fragment the multilateral system and create new divisions among members.
In a separate development, the World Trade Organization chief Ngozi Okonjo-Iweala urged India to support the China-led proposal on the IFD as several developing countries are backing the initiative.
The Director General of the Geneva-based body said she discussed several issues like WTO reforms and agriculture with Indian Commerce and Industry Minister Piyush Goyal.
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