General Council Meeting
December 16-18, 2020
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Statement by India –Delivered by Ambassador & PR to the WTO
Agenda Item 10: ‘Importance of market-oriented conditions to the World Trading System – Joint Statement by Brazil, Japan, and the United States’ (WT/GC/W/803/Rev.1)
Thank you Chair.
We thank Brazil, Japan and the United Statesfor their Statement.
- Chair, as stated in our earlier statements India has strived to pursue pro-market, pro-competition and transparent policies. Sometimes State interventions have been warranted to address market failures, given the significant need to pursue pro-poor, pro-welfare, and pro-equity policies to bring millionsof people out of poverty. While doing so, India has been mindful of the need to achieve a fair balance between the market and state interventions.
- India celebrates openness in people and in governance. Open minds make open markets. Open markets lead to greater prosperity. India shares these principles with many of itspartners including the proponents of this statement. During the last six years, the government has made many efforts to make Indian economy more open and reform oriented.These reforms have ensured increased ‘competitiveness’, enhanced ‘transparency’, expanded ‘digitization’ and more ‘policy stability’.
- As a founding member of the WTO, India believes that WTO’s objective is promoting sustainable development, ‘in a manner consistent with the needs and respective levels of economic development’ of its members. The focus of the WTO, in that regard, is to facilitate trade for welfare and development for the benefit of all members.
- We appreciate the discussions so far on the proposal at the General Council. The joint statement is still being examined by our capital, in consultation with all stakeholders and therefore, we will offer our detailed comments on the proposal in due course.
I thank you, Chair.
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