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Business News/ News / India/  India to pitch for WTO reforms during G20 talks
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India to pitch for WTO reforms during G20 talks

This comes amid a logjam in the appointments of new members in WTO’s appellate body that has rendered the organization’s top court dysfunctional

G20 posters displayed in Delhi Metro trains, logos and banners at prominent buildingsPremium
G20 posters displayed in Delhi Metro trains, logos and banners at prominent buildings

India is seeking a better dispute settlement mechanism at the World Trade Organization’s (WTO) and is planning to take up the issue related to the WTO reforms during the G20 talks, commerce secretary Sunil Barthwal said at a press briefing on Friday.

This comes amid a logjam in the appointments of new members in WTO’s appellate body that has rendered the organization’s top court dysfunctional. The Appellate Body is a standing committee of seven members that presides over appeals against judgments passed in trade-related disputes brought by WTO members. It was set up in 1995.

“Among other issues that India would be taking up in the G20 talks would be WTO related issues where we want a better WTO dispute settlement mechanism. WTO multilateral arrangement should be working for the benefit of all the countries," Barthwal said.

The trade and investment group (TIWG) of the commerce ministry will be looking after the trade issues from the G20 point of view and its meetings will begin from March 28.

“We have taken up five priority issues which are in the field of maintaining and diversification of the global value chains. So, that is one very important priority issue which we are going to take up. Another will be on how to integrate MSMEs within the global value chains and their better integration in the global trading system. The third priority woud be regarding the logistics, the external logistics particularly," the secretary said.

“We also want that there should be a better integration with the international world in terms of our facilitation of trade between the customs authorities and the government authorities, externally with other countries," he further added.

Last issue is regarding trade and growth which is the general issue. And we will be looking at the SDG goals, how trade can reduce poverty and also can reduce inequality not only within nations but also among nations, he added.

Commerce and industry ministry in a statement further said that the 1st TIWG meeting under India’s G20 Presidency is scheduled in Mumbai, from March 28th - 30th, 2023.

The TIWG priority issues focussed on making trade work for growth and prosperity, and building resilient Global Value Chains (GVCs) will be discussed. The emphasis will be on achieving shared outcomes for making growth inclusive and resilient, increasing the participation of developing countries and the Global South in GVCs, making GVCs work for inclusive development and building resilient GVCs to withstand future shocks, the ministry said.

The ministry further added that the TIWG priorities on integrating MSMEs in Global Trade, and building efficient logistics for trade will be discussed across two working sessions.

The presidency will aim to carry forward the work done by past G20 Presidencies to better integrate MSMEs into global trade considering their primacy in sustaining livelihoods in both the developed and developing countries. The ways of developing robust logistics infrastructure that could reduce transaction costs both across borders and in the hinterlands will also be deliberated by the G20 delegates.

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Published: 24 Mar 2023, 07:57 PM IST
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