India Leads & Delivers at WTO 12th Ministerial Conference: Piyush Goyal

Despite a strong global campaign against our farmers and fishermen, India was able to secure a favorable outcome at the WTO after many years, said Union Minister of Commerce and Industry, Consumer Affairs, Food, and Public Distribution, and Textiles, Piyush Goyal, following the conclusion of the WTO 12th Ministerial Conference in Geneva today.

Goyal described the recently concluded MC12 as an "outcome-oriented" success, saying the Indian delegation, constantly guided by Prime Minister Narendra Modi, was 100 percent successful in portraying to the world the priority issues for India and the developing world.

Goyal stated that the Indian delegation capitalized on India's strong relationship with the rest of the world, which Prime Minister Narendra Modi has fostered in recent years.

"On Sunday and Monday, a few countries attempted to create a false campaign claiming that India is obstinate and that no progress is being made." "The true situation has emerged before us all, the issues raised by India, on which the Prime Minister had asked us to focus, now the entire world recognizes that was the correct agenda, and ultimately India played a vital role in arriving at all solutions," Goyal said at a press conference in Geneva.

Goyal said today at the WTO was a proud day for 135 crores Indians because India took the lead and was at the centre of the conference. "It shifted the mood of the negotiations from complete failure, doom, and gloom to optimism, enthusiasm, and consensus-based decision-making." "India's efforts to bring members together to discuss issues regardless of the existing geopolitical order have ensured that the world order remains intact," he said.

Outcomes at WTO MC 12 Meeting

• In terms of fisheries, there would be a stop to illegal, unreported, and unregulated fishing in our waters and elsewhere. Overfished areas would be subject to strict controls in order to restore fish stocks. Furthermore, no subsidies will be provided for fishing in areas outside of EEZs or RFMOs.

• The TRIPS decision will increase exports, vaccine equity, access, and affordability. A country can authorize the production of vaccines that have been patented elsewhere, with no consent required and no export restrictions. In 6 months, a decision on Diagnostics/Therapeutics would be made. In the future, pandemic response would be faster, and trade barriers would be lower.

• The WTO reform agenda will make the WTO a more efficient and agile body. The dispute resolution body will be reactivated and will resume its role in resolving trade disputes. The reform would benefit developing countries' trade outcomes. The WTO reform agenda includes a mention of Gender, Environment, and MSME.

• While agreeing to the temporary moratorium on e-commerce, India requested that discussions on the moratorium be intensified, including its scope, definition, and impact, so that an informed decision could be made.

• The Food Security Declaration focuses on increasing food availability in developing countries while also working to boost productivity and production.

• There will be no export restrictions on World Food Programme (WFP) purchases for food security in other countries; however, domestic food security will take precedence.