India's Stance on Plurilateral Agreements

India is among the few large countries opposing plurilateral agreements on e-commerce and investments, facing criticism from both developed and developing nations, including the EU, Canada, UK, Cambodia, and Gambia. These nations allege that India is hindering the WTO reform process.

Overview of India's Position

• India argues that plurilateral agreements contradict the WTO's core principle of consensus-based decision-making.
• Major trading powers like the US, EU, and China support these negotiations, limiting benefits and responsibilities to signatories.
• The EU acknowledges India's significant gains from global trade integration and urges India to view plurilateral agreements as opportunities rather than threats.

Investment Facilitation for Development (IFD) Agreement

• Gambia and Costa Rica requested India to reconsider its opposition to the IFD agreement.
• 129 WTO members back the IFD, but India remains opposed, citing systemic risks and arguing that investment is not a core trade issue.

E-Commerce Plurilateral Agreements

• Proponents of e-commerce plurilaterals devised an interim strategy after failing during MC14, appointing WTO DG Ngozi Okonjo-Iweala as the depository of interim arrangements.
• India challenged this arrangement, questioning the legal basis for the WTO DG's role under the Marrakesh Agreement.
• Approximately 70% of global trade, involving 66 members, supports the WTO Agreement on Electronic Commerce through interim arrangements.
• The E-Commerce Agreement prevents customs duties on electronic transmissions across parties.

India's Key Arguments

• Commerce Minister Piyush Goyal emphasized the risk of undermining the WTO's foundational principles by incorporating the IFD agreement.
• During the WTO MC14, India stood alone in opposing the IFD's incorporation, inspired by Mahatma Gandhi's philosophy of truth over conformity.

India's Economic Achievements

Despite global challenges, India has maintained its status as the fastest-growing major economy, achieving record exports, enhancing digital transformation, fostering innovation, improving business ease, and expanding trade and investment opportunities.