WTO negotiations: India secures multilateral victory, upholds principles of fair trade devdiscourse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from devdiscourse.com Daily Mail and Mail on Sunday newspapers.
India, along with South Africa, achieved a significant breakthrough in World Trade Organization (WTO) negotiations on domestic service regulations. After objections to certification requests for updated General Agreement on Trade in Services (GATS) schedules, India withdrew objections following consultations. India emphasized adherence to multilateral processes, ensuring non-discrimination principles.
India must embrace plurilateral talks on services
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The WTO’s latest Joint Services Initiative is more flexible, which will benefit India and help us develop good regulatory practices
Selection of the first lady Director-General of the WTO and the new Biden administration in the US will hopefully generate a new momentum at the world trade body. However, one area that seems to be generating momentum of its own, with an expected outcome at the Ministerial Conference later this year, is the Joint Services Initiative (JSI) on Domestic Regulations in Services, seeking to develop and adopt disciplines in pursuance of the mandate contained in Article VI:4 of the GATS .