India Opposes WTO Investment Pact
India has opposed the proposed Investment Facilitation for Development agreement from being brought into the World Trade Organization framework, with Commerce and Industry Minister Piyush Goyal saying New Delhi stood alone on the issue at the WTO ministerial meeting. India’s position is that the pact should not be inserted as an Annex 4 plurilateral agreement without full consensus among WTO members.
India Opposes WTO Investment Pact
Goyal said India refused to support the inclusion of the IFD agreement in the WTO structure during the ministerial process. He maintained that investment-related matters are not part of the WTO’s original mandate and argued that plurilateral arrangements cannot be added to the organisation’s legal structure unless all members agree.
What The IFD Agreement Means
The Investment Facilitation for Development agreement is backed by a group of WTO members and is aimed at simplifying investment procedures, improving regulatory transparency and making cross-border investments easier. India has argued that incorporating it into the WTO framework would expand the body beyond its intended scope and could set an unwanted precedent for future negotiations.
India Also Raises Fisheries Subsidy Issues
Alongside its stand on the IFD agreement, India also pressed its concerns over fisheries subsidy negotiations. It called for stronger safeguards for small and traditional fishermen and said any future WTO decisions must remain development-focused. India also stressed that reform of the global trade body must continue to be based on consensus, especially on issues that affect developing economies and livelihood concerns.
