India Prioritises Msmes, Logistics For Its G20 Presidency Fr...| MENAFN.COM

Tuesday, 29 November 2022 03:22 GMT

India Prioritises Msmes, Logistics For Its G20 Presidency From Dec 1


(MENAFN- KNN India) India prioritises MSMEs, logistics for its G20 presidency from Dec 1

New Delhi, Nov 24 (KNN) Starting its G20 presidency from December 1, India has recognised five significant issues such as growth and prosperity, resilient global value chains, MSMEs, logistics, and WTO reform.

Being the nodal agency for the G20 Trade and Investment Working Group (TIWG), the Commerce Ministry is likely to propose a common digital platform for ease of cross-border trade, reported ET.

For dispute settlement in WTO it will pitch for a legal aid system for developing countries and ways to eliminate distortionary non-tariff measures for developing countries and LDCs, and a framework to address crucial issues at the WTO in clearly defined circumstances like the Covid-19 pandemic.

Another point on which deliberation could happen is setting up of an online digital portal that offers integrated trade and business information for market research by MSMEs.

'G20 could deliberate upon a possible framework for addressing the issues of global relevance for enabling members to go beyond the general exceptions under the WTO agreements, in very narrow and clearly defined circumstances like the pandemic,' the ministry has proposed.

It has also proposed evolving common principles to facilitate decentralised trading, an inclusive trade action plan that defines clear objectives for driving inclusion in goods and services trade, and evolving principles to ensure food security through remunerative prices of farm goods.
(KNN Bureau)

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