FICCI Urges Govt To Use Mini-Ministerial Platform To Create Support For Revitalising WTO

In a letter sent to the Ministry of Commerce & Industry, the apex chamber said that it would like the 'Special and Differential Treatment (S&DT) to continue at WTO for all developing and least developed members, because S&DT provisions are an integral part of multilateral trade rules. In view of the wide diversity in the level of development among WTO membership, there is need for sufficient flexibilities. "Just to cite one specific instance, India still has over 360 million poor and as of end-May 2018, it had 73 million people in extreme poverty. So, we just cannot wish away the continued need for S&DT provisions for developing economies like India," FICCI President pointed out.