WTO needs to reassess the way of conducting its affairs: Goyal

The minister said that the developed countries should contribute more to achieve the 'Sustainable Development Goals' and do their part on meeting the obligations of providing clean and green technology and achieving climate goals as well as meeting the needs of billions of people.

Union Minister for Commerce and Industry Piyush Goyal has said that the  World Trade Organization needs to reassess the way it has been conducting its affairs.

The minister said that the developed countries should contribute more to achieve the 'Sustainable Development Goals' and do their part on meeting the obligations of providing clean and green technology and achieving climate goals as well as meeting the needs of billions of people.

Piyush Goyal made these remarks while speaking at the session on "Enhancing Global Footprint: India's Big Opportunity" at the CII Global Economic Policy Summit, 2021.

"I can understand a discussion on which countries should be considered developing and which should now be considered developed, I think the world should be open to a discussion on that," Piyush added.

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"But to deprive countries from certain differentiated treatment in their business practices when they are at levels of $600-3,000 per capita income and putting them on the same benchmark as a country which makes $60,000 or $80,000 per capita is grossly unfair. So, I think the developed world should look at their priorities," the miniter said.

Besides, he said the Centre should have no role in running businesses, rather it should act as a facilitator.

"Boosting the role of the private sector and engaging both the government and the private sector to work possibly through private-public partnerships, through greater engagement with the private sector and the government, but leaving the work of running businesses to business firms," said Piyush Goyal

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"So the government's job to keep expanding our footprint or our engagement into businesses, our role should be more and more facilitating businesses," he added