India to Lead WTO Reforms, But Seek Global South Consensus
India to Lead WTO Reforms, But Seek Global South Consensus
India signals willingness to steer WTO reforms, but insists reforms be built on consensus with developing nations to safeguard global welfare.
India is ready to lead WTO reforms, but says the process must be inclusive, shaped through consultation with developing and least-developed countries to ensure reforms serve global welfare rather than the agenda of a few advanced nations. Commerce and Industry Minister Piyush Goyal told delegates in Visakhapatnam during the CII Partnership Summit 2025 that the world recognises India's strength and leadership and that the country will continue to be the voice of the Global South.
Vice-President C.P. Radhakrishnan also remarked that 'This is the right time to invest in India and Andhra Pradesh.'
He stressed that any decision on WTO reforms must be taken by consensus among all member nations. He said he and WTO Director-General Ngozi Okonjo-Iweala discussed the 14th Ministerial Conference, slated for Cameroon in March next year, and various reform options.
India is negotiating Free Trade Agreements with multiple partners, including the US and the EU, aiming to lower barriers and promote the free flow of goods, services and capital. He added that reforms in areas like the dispute settlement mechanism and special and differential treatment must be developed through broad, inclusive dialogue. The stance aligns with India's longstanding view that WTO reforms should reflect the interests of the Global South, not just those of a few powerful economies.
Cover image source: India negotiating trade pact with US, EU, other nations: Goyal 🔗
