India likely to address agricultural and fisheries issues at informal WTO ministers’ meeting.

India is set to voice its concerns regarding agriculture and fisheries at an informal meeting of about 25 trade ministers from World Trade Organization (WTO) member countries in Paris. Government sources indicate that India will stress its long-standing request for the restoration of the WTO Appellate Body, which has been inactive since 2019. Additionally, the country will maintain its opposition to the Investment Facilitation for Development (IFD) proposal backed by China.

Commerce and Industry Minister Piyush Goyal is participating in the WTO meeting, which is taking place alongside the OECD Ministerial Council Meeting in Paris.

During his trip to Europe, the minister is set to engage in high-profile bilateral talks with several global counterparts. These meetings include discussions with the UK’s Secretary of State for Business and Trade Jonathan Reynolds, Brazil’s Foreign Minister Mauro Vieira, Saudi Arabia’s Minister of Commerce Dr Majid bin Abdullah Al-Kasabi, Israel’s Minister for Trade and Investment Nir Barkat, Nigeria’s Minister for Trade, Industry and Investment Dr Jumoke Oduwole, and Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong.

India has been against the IFD proposal, which is supported by over 128 of the 166 WTO members. As per the WTO, the agreement aims to establish global standards to assist countries in enhancing their investment and business climates, thus facilitating easier operation and expansion for investors across various sectors. However, India contends that the agreement may constrain policy-making flexibility for poorer nations that lack the necessary institutional capacity to shield critical sectors from foreign involvement.

Government sources informed CNBC-TV18 that China has been vigorously advocating for consensus on the IFD, with Pakistan among those supporting the proposal at the General Council.

India is also advocating for a permanent solution to the public stockholding of food items to support its Public Distribution System (PDS), a stance endorsed by other developing nations. The Department of Commerce is collaborating with the Ministry of Fisheries to refine India’s negotiating position on fisheries, where it continues to demand safeguards for small-scale fishers and accountability from developed nations that have overexploited marine resources.

Apart from issues in fisheries and agriculture, India is urging for the revival of the WTO’s appellate body and for the organization to tackle technical barriers to trade (TBTs) that impede global commerce.

Also read: Goyal to meet ministers, businesses in Paris as India, EU look to sign FTA by July