India open to leading WTO reforms, but seeks consensus on agenda: Goyal

Visakhapatnam, Nov 15 (PTI) Commerce and Industry Minister Piyush Goyal has said India is willing to play a leadership role in driving WTO reforms, but emphasised that the nature of those reforms must be shaped in consultation with developing and least-developed countries to ensure they serve global welfare rather than the agenda of a few advanced nations.

He said the world recognises India's strength and leadership and the country is a responsible global citizen and it will continue to be the voice of the Global South.

"We would love to lead reforms (at the World Trade Organization). But that reform will be decided in consultation with other developing and less developed countries, so that we can truly work for the welfare of the world and not just the agenda of a few developed nations," he said.

The minister was here to participate in the CII Partnership Summit 2025.

Goyal was replying to a question on remarks made by WTO Director-General Ngozi Okonjo-Iweala that India should take a leadership role in the WTO reform process. She was also here for the summit.

Developed nations, including the US are pushing for reforms in WTO. These talks have gained momentum in recent years. They are demanding reforms in areas such as dispute settlement mechanism, special and differential treatment to developing countries, and the way agreements are negotiated in the WTO.

India has consistently stated that the reform agenda must be decided by consensus among all member nations.

According to the Geneva-based 166-member WTO, the issue of reforms is a broad one, encompassing many facets of the WTO's work.

On his meeting with the WTO chief here on Friday, Goyal said they held talks about the 14th Ministerial Conference (MC), to be held in Cameroon in March next year, and various other aspects including reforms.

MC is the highest decision-making body of this multilateral organisation that deals with global trade related matters. It also adjudicates disputes between the member countries. India has been its member since 1995.

"We have the demand for a permanent solution to the public stockholding issue. We want the dispute resolution mechanism to be revived. There are many agendas which we discussed," he said.

Meanwhile, talking to reporters here on her meeting with the minister Ngozi said: "We discussed about WTO, we also have to strengthen the multi-lateral system and we would like India to take a lead in doing that".

On India's role in the next MC, she said India can play an "extremely" important role in that as the country is dynamic, innovative and it has many good practices to share with other developing nations.

"We will also be looking at some of the issues that India is interested in like past mandates to do with public stockholding. How should we do it, the past mandates in the reform programme. So we would like India to be very active and a leader in the reform process," she said.

She added that some of the criticisms made by India and other emerging economies are valid and similarly criticism flagged by the US is also valid.

"Let us use this opportunity of the crisis...to solve the challenges in the WTO and strengthen the system," she said.

She added that it is a good thing that India is negotiating a bilateral trade agreement with the US, which has unilaterally imposed high tariffs. PTI RR ANU ANU