ARID IN ABU DHABI
Business Standard|March 08, 2024
The fruitless WT0 ministerial in the UAE capital showed India's path diverging from South Africa's and its parting of ways with China, while the US ceded leadership
ASIT RANJAN MISHRA
ARID IN ABU DHABI

After the 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) in Abu Dhabi failed to deliver a substantial outcome in spite of an extended deadline, European Trade Commissioner Valdis Dombrovskis took to microblogging platform X to vent his frustration.

"European Union (EU) engaged intensively on: Fisheries subsidies, agriculture & WTO reform. Agreements were within reach, supported by a big majority, but ultimately blocked by a handful of countries-sometimes just 1," Dombrovskis posted, adding a picture of India's trade minister Piyush Goyal, WTO Director General Ngozi Okonjo-Iweala, and himself engaged in an animated conversation.

Though a picture is often said to be worth a thousand words, the short note attached to the picture in this instance left no room for speculation regarding whom Dombrovskis held responsible for the failure at MC13.

India has often been the fall guy for assiduously safeguarding development issues at the WTO Ministerials, but it has seen a rapid decline in its coalition partners of developing countries. This is at a time when India has been seeking to position itself as the true voice of the "Global South", a euphemism that represents less the geographical Southern Hemisphere and more the developing world that faces the common challenges of poverty, inequality, and underdevelopment.

"Since the WTO involves hard commercial interests, Global South always doesn't stand together and some fall for inducements," an Indian official involved in the MC13 negotiations said, requesting anonymity.

Ujal Singh Bhatia, India's former Permanent Representative to the WTO said it was important, of course, for India to build partnerships with like minded countries, but the dynamics on the negotiating table did not always reflect the numbers.

Denne historien er fra March 08, 2024-utgaven av Business Standard.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra March 08, 2024-utgaven av Business Standard.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA BUSINESS STANDARDSe alt
Business Standard

Indians prefer credit over debit card for high-value payments

In June 2024, India saw a significant increase in the number of credit, debit, and prepaid cards, reaching a total of 1.451 billion cards—an 11 per cent jump from the previous year, according to the India Digital Payments report for the first half of 2024 (January to June) by payment technology service provider Worldline.

time-read
1 min  |
October 12, 2024
Business Standard

An Indian anthropologist ahead of her time

Urmilla Deshpande set out to work on a novel about an Indian woman in Germany in the 1920s based on her grandmother Irawati Karve when she stumbled on the opportunity to write her biography.

time-read
3 mins  |
October 12, 2024
IAF plane makes inaugural landing at upcoming Navi Mumbai airport
Business Standard

IAF plane makes inaugural landing at upcoming Navi Mumbai airport

An Airbus C-295 of the Indian Air Force (IAF) touched down at Navi Mumbai International Airport (NMIAL) on Friday, marking the formal inaugural flight landing at the place. A Sukhoi SU-30 fighter jet did a low fly-by at the airport to test the 3.7-km long runway in the presence of Maharashtra Chief Minister Eknath Shinde, his deputy Devendra Fadnavis and Murlidhar Mohol, Minister of State for Civil Aviation and Co-operation.

time-read
1 min  |
October 12, 2024
Less than 33% of youth can search Net, transact online
Business Standard

Less than 33% of youth can search Net, transact online

Less than a third of those in the 15-29 age group can \"search the internet; send or receive an email and perform an online transaction\", show the findings from the latest Comprehensive Annual Modular Survey (CAMS), released by National Statistical Office (NSO) this week.

time-read
1 min  |
October 12, 2024
TCS shares dip as analysts offer mixed outlook
Business Standard

TCS shares dip as analysts offer mixed outlook

IT sector is expected to grow considerably from Q4 FY25 onwards

time-read
3 mins  |
October 12, 2024
Business Standard

NSE retains Nifty 50 for weekly contracts

The National Stock Exchange (NSE) has opted for the Nifty 50 index for issuing weekly option contracts following the Securities Exchange Board of India (Sebi's) one-exchange-one-benchmark mandate.

time-read
1 min  |
October 12, 2024
Business Standard

Compare lenders' costs; higher rates can offset benefits of offers

Footfall, enquiries, and bookings at car dealerships are rising, driven by attractive offers and promotions. These special deals typically start in October and run until the New Year.

time-read
2 mins  |
October 12, 2024
Business Standard

Noel's appointment as Tata Trusts' chair signals continuity: Analysts

It will be business as usual for Tata group stocks post Noel Naval Tata's appointment as chair of Tata Trusts, said analysts. They added that the development will signal continuity.

time-read
2 mins  |
October 12, 2024
Business Standard

Sebi intervenes in ₹45cr Trafiksol IPO irregularity

To undertake detailed examination into disclosures by the firm

time-read
2 mins  |
October 12, 2024
Business Standard

India-focused funds log first weekly redemption in 19 mths

China resurgence, expensive valuation dim India appeal; midcap funds see 14th week of outflows

time-read
2 mins  |
October 12, 2024