World Trade and Development Report: India for Preferential Status to Developing Nations
On Thursday, the administration emphasized the importance of maintaining the WTO’s special and differential treatment for developing and poor nations, as well as a consensus-driven approach, as essential principles, a viewpoint held by trade experts as well.
“At the upcoming WTO ministerial conference, India will fight to preserve special and differential treatment for developing countries,” Shyamal Misra, joint secretary in the commerce department, said, adding that the country will work to ensure that the global organization remains relevant in promoting international trade.
The fears come from a US proposal from a few years ago that sought to differentiate between developing countries like China and India and others, as well as a European Union plan for WTO reforms.
Pic Courtesy: google/ images are subject to copyright
