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LATEST NEWS UPDATES | Revival Of Economy Should Be Topmost Priority Of World Trade Body: India

Revival Of Economy Should Be Topmost Priority Of World Trade Body: India

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published Published on May 12, 2022   modified Modified on May 13, 2022

-PTI/ NDTV

India told the World Trade Organization that the present situation has got a new important problem -- the increasing inflation in most of the domestic economies.

New Delhi: India wants the World Trade Organisation (WTO) to play its role in containing global inflation, which is impacting most of the economies of the member countries.

According to a statement by India, delivered by Ambassador and Permanent Representative to the WTO, Brajendra Navnit, the topmost priority for the global trade body should be the revival of the economy and sustain the growth post-pandemic during a conflict situation.

"The present situation has got a new important problem...and that problem is the increasing inflation in most of the domestic economies...These are getting transmitted through food, fertiliser, and fuel crisis and it is going to devastate the economy. It is going to wipe out a lot of gains which were made before pandemic," he said.

The statement was delivered on May 4 during an informal meeting of trade negotiations committee (TNC) and head of delegations (HoDs).

"We think that the WTO has a role to play to take care of these important problems," he added for the MC12 (12th ministerial conference).

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PTI/ NDTV, 12 May, 2022, https://www.ndtv.com/india-news/contain-global-inflation-indian-ambassador-to-world-trade-organisation-2970871?fbclid=IwAR2NM2owQxVSQK2_Vb3xuRvlNCPHxO4f65RN8e6wrc1Gq1--vx6nx5r0G8c


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