India is set to take a firm stance against a proposal led by China for an investment facilitation pact and strongly for its key interests at the World Trade Organisation meeting commencing on February 27, 2024.
Led by Commerce and Industry minister Piyush Goyal, the Indian delegation aims to address critical issues concerning food security, fisheries subsidies, agricultural reforms and e-commerce moratoriums on import duties during the four-day ministerial conference (MC13) in Abu Dhabi, United Arab Emirates (UAE).
Piyush Goyal stressed India’s commitment to finding a permanent solution to the public stock holding (PSH) issues for food security, highlighting the significance of food procurement, stockholding and distribution in India’s food security strategy. The Indian governments procurements of crops at minimum support prices (MSP) plays a crucial role in ensuring food security for millions of vulnerable citizens, despite limitations imposed by the WTO Agreement on Agriculture.
India is vehemently opposed to the Joint Support Initiatives (JSI) on plurilateral agreements advocated by certain nations, particularly China. These efforts to push for investment facilitation for development agreement at the WTO are seen as falling outside the WTO mandate raising systemic concerns and potentially hindering developing nations interests in the future.
Furthermore, India stands firm on protecting farmer livelihoods and ensuring equitable market access amid call for agricultural reforms. The Developed Nations push to reduce domestic support and increase market openness disregards the heavily subsidies they provide to their own farmers posing challenges for India and other developing nations.
In addition to advocating for inclusive WTO reforms, India emphaises the need to revamp the Appellate Body to ensure fairness in dispute resolution. This stance pits India against the reluctance and the European Union proposal for alternate mechanisms. Fisheries subsidies also feature prominently in India’s agenda, with a focus on promoting the interests of poor fishermen.
India advocates for a balanced approach based on the common principle but differentiated responsibilities, urging advanced fishing nations to bear greater responsibilities for overfishing and overcapacity. The ongoing moratorium on customs duties on e-commerce trade is another contentious issue for India, which seeks it to terminate alongside several other developing nations.
Developed nations, however, advocate for the permanent adoption of duty-free digital transmissions, setting the stage for heated debates at the MC13. India reiterates its position that non-trade issues like labour and environment should not be discussed at the WTO.
