India records 17 pc jump to become 4th largest exporter of digital services: WTO report
India’s growth rate was much higher than the 4 per cent increase posted by China and Germany.
India’s growth rate was much higher than the 4 per cent increase posted by China and Germany.
The World Trade Organization (WTO) 13th Ministerial Conference at Abu Dhabi has been extended until Friday, March 1, to allow further discussions and facilitate outcomes on main issues.
It also discussed how this emerging segment of the global economy holds the promise for economic development and prosperity for the developing countries, including the least developed countries (LDCs).
Both the countries said that as there is no consensus on the agreement, and that it could not be included in the outcome of MC13.
It also called for effective formalisation of the ongoing informal dispute settlement reform discussions among some Members at the WTO, the Ministry of Commerce & Industry said in a statement.
The agreements were signed after wide-ranging talks between Prime Minister Narendra Modi and Brazil President Jair Messias Bolsonaro, who will be the chief guest at the Republic Day parade on Sunday.
Other than receiving income for its annual budget, the WTO also manages a number of trust funds, which have been contributed by members.
The minister will participate in the WEF along with Union Minister of State for Shipping and Chemical and Fertilizers, Mansukh L Mandaviya and Chief Ministers of Karnataka and Madhya Pradesh, Finance Minister of Punjab and the IT Minister of Telangana, an official communique said today.
The US and China are currently engaged in a bruising trade war after Donald Trump imposed punitive tariffs on Chinese goods and Beijing retaliated.
It is high time for member-states to unite and adopt corrective measures and halt the WTO from losing its relevance. The member-states should immediately strike a deal on the vital issues of the dispute settlement mechanism, thereby averting the acute danger of the WTO falling apart. Failure of the WTO would be a severe shock not only to the multilateral trading system but also to the global economy as a whole.
