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World Trade Organisation (WTO) Director General Ngozi Okonjo-Iweala on Friday said India should play a leading role in driving reforms at the WTO, stressing that the global trading system must remain rules-based rather than power-based.
Addressing the inaugural session of the 30th CII Partnership Summit 2025 in Visakhapatnam, she said the world is witnessing major changes in trade, and India is well-positioned to take advantage of these shifts. "India should be a leader in the reform process at the WTO. India should be a leader, making sure that we do not stay in a system that becomes more power-based instead of rule-based. We must do the work that is necessary to give reform a chance. We must correct old wrongs and seize opportunities that are emerging," she said. She noted that global supply chains are being reconfigured, and India is emerging as a key beneficiary. She also highlighted the rapid growth of green trade and digitally delivered services, stating that the latter is expanding at a rate of 6 to 8 per cent and is now worth almost USD 5 trillion. India, she added, has a unique opportunity to excel further as it is already doing well in digitally delivered trade. South-South trade is also growing again, giving India more room to expand. Okonjo-Iweala said India is playing a major role in ongoing reforms, noting that it can help create a more flexible system that allows even smaller developing countries to benefit. She said her message to India is to work together with the global community to strengthen a trading system that has largely delivered for the world but can still deliver more, especially for developing countries. The WTO chief praised India's economic progress, calling it the world's fastest-growing large economy over the past few years, with growth exceeding 6 per cent in 2024-2025. She said this momentum is expected to continue, backed by strong domestic demand, sustained investment, and stable macroeconomic conditions. She also congratulated Prime Minister Narendra Modi, the government, and the people for this performance. Highlighting the importance of multilateralism, she noted that despite the rise in bilateral deals and partnerships, the world still requires robust global institutions. "You cannot have global growth without global trade growth. You cannot even have growth in India without trade growth," she said, adding that global financial stability also depends on global trade stability. She warned that the world is facing the greatest disruptions in global trade in eight decades, with unprecedented challenges and undermining of trade rules. Responding to long-standing concerns raised by India and other developing countries, she acknowledged issues such as public stockholding, lack of integration of developing countries, and unfulfilled ministerial mandates. She said the Doha Round's failure created frustration and mistrust, which remain today. However, she stressed that repeating past grievances will not help and that the world now has a chance to build resilience and seize emerging opportunities through constructive reform. (ANI)
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