World Trade Organisation should listen to the countries with a different opinion too – Union Finance Minister Nirmala Sitharaman urges WTO

Washington: The World Trade Organization (WTO) must now be more progressive. If a country has something different to say, the WTO should listen to it. Union Finance Minister Nirmala Sitharaman indirectly drew attention to the discrimination in the WTO by saying that these countries are not just sitting and listening. India has repeatedly said that the organisation will lose its existence if the United Nations is not reformed. Other world organisations like the United Nations have not given proper representation to the poor and developing countries. The Union Finance Minister has indirectly said that if these opinions are not respected, these institutions will also lose their existence.

Moreover, Union Finance Minister Nirmala Sitharaman is visiting the United States for the annual meetings of the World Bank and the International Monetary Fund. Besides, her tour started from April 9 and on Monday, she participated in a program organised by the study group ‘Peterson Institute for International Economics’. At this time, she was reminded that he was associated with WTO for some time when he was the Minister of Commerce. Talking about the functioning of WTO, he explained that this organisation should show more openness now. The WTO should also listen to the views of other countries, especially countries with differences of opinion. Sitharaman said that they should be able to express their views and opinions.

Furthermore, Sitharaman insisted that there should be more transparency in globalisation. A few days ago, US Commerce Secretary Katherine Tai said that globalisation had damaged the US economy. It should be noted that this process is not reversible. But the process of globalisation can be made more transparent, Sitharaman said.

Meanwhile, India has adopted a quota-free and tariff-free trade policy. Accordingly, anyone from Africa to an island country in the Pacific can export to India without any restrictions, Sitharaman pointed out and indirectly criticised the policies of the US and European countries. India is prioritising digitisation and skill development. Moreover, India’s economic policies encourage investment in the country. The news being spread that the Indian economy is stable and injustice is being done to some communities here is wrong. Sitharaman said that they should learn about this from investors in India.