Business News | India Reiterates WTO-consistent Trade Policy, Calls for Development-oriented Reforms
Get latest articles and stories on Business at LatestLY. India has reaffirmed its commitment to transparent and WTO-consistent trade policies and has called for development-oriented WTO reforms, as per a statement by the Commerce Ministry.
New Delhi [India], July 24 (ANI): India has reaffirmed its commitment to transparent and WTO-consistent trade policies and has called for development-oriented WTO reforms, as per a statement by the Ministry of Commerce & Industry.
India has concluded the 8th Trade Policy Review at the World Trade Organization (WTO) in Geneva. According to the release, Commerce Secretary said reform is an ongoing process, highlighting India's tariff reforms, customs simplification measures and ambitious Free Trade Agreement (FTA) strategy as key steps that have strengthened the country's integration with the global economy while advancing domestic development goals.
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India received 1,094 written questions from 44 WTO members, while 68 members made interventions during the two review sessions held on July 21 and 23, 2026. Members broadly appreciated India's constructive engagement and economic resilience and welcomed India's acceptance of the WTO Agreement on Fisheries Subsidies, as per the release.
The Commerce Secretary emphasised India's continued role as a major driver of global demand.
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"Responding to the issues raised by Members, the Commerce Secretary reiterated that India's trade policies are guided by WTO-consistent principles while balancing the developmental needs of a large developing economy," the release said.
Agarwal further said India's agricultural tariff structure is aimed at protecting the livelihoods of millions of small, low-income and resource-poor farmers, while industrial tariffs are designed to strengthen supply chain resilience, promote diversification and support domestic manufacturing amid evolving global economic conditions.
As per the release, Agarwal stressed WTO reform should remain development-oriented, preserve policy space for developing countries, bolster the credibility and deliver on existing mandates. "India also reaffirmed its commitment to engaging constructively with all Members to strengthen the multilateral trading system while preserving the foundational principles of the WTO," the release said.
The Trade Policy Review is an important WTO transparency and monitoring mechanism under which members' trade and related policies are periodically examined to promote transparency, ensure greater adherence to WTO rules and facilitate constructive dialogue among members. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)