India Backs WTO-Centred Fair Trade System At SCO Trade Ministers' Meeting

(MENAFN- IANS) New Delhi, Sep 7 (IANS) India emphasised the need for an open, fair, inclusive and non-discriminatory multilateral trading system centred around WTO norms, at the Shanghai Cooperation Organisation Trade Ministers' Meeting in Vladivostok, Russia, amid the ongoing uncertainty in global trade triggered by the US tariff turmoil, the Commerce and Industry Ministry announced on Sunday.

India highlighted the scope to leverage the Shanghai Cooperation Organisation's (SCO) collective strengths for shared prosperity and the need for export diversification, reducing dependency, and building resilient supply chains at the meeting held on Saturday.

Amitabh Kumar, Additional Secretary, Department of Commerce, who represented the Commerce Minister on behalf of India, came out strongly for coordinated action to enhance trade flows, address vulnerabilities, and support inclusive growth across the region, which accounts for 42 per cent of the world's population and 17.2 per cent of global trade.

He highlighted the importance of a development-centred agenda that includes a permanent solution on Public Stockholding (PSH) for food security purposes, effective Special & Differential Treatment (S&DT) for developing countries, and restoration of a fully functional two-tier WTO dispute settlement system. He also underlined the role of services trade and the temporary movement of skilled professionals, in line with national laws and transparency, to strengthen economic growth and support greater participation of MSMEs in global value chains.

India has stressed the importance of diversifying and de-risking supply and production chains through geographical spread, interoperable logistics, predictable market access, and enhanced connectivity, while upholding principles of national sovereignty and territorial integrity. It noted that persistent trade imbalances must be addressed through better market access, cooperation on standards, and streamlined trade facilitation. India cautioned that export-related measures should not be weaponised or misused to create artificial scarcity, distort markets, or disrupt supply chains, and emphasised that their calibrated and transparent use is essential to maintain trust in international commerce.

On the digital economy, India proposed SCO workstreams focused on fair, transparent and predictable regulatory frameworks, voluntary cooperation on best practices, and capacity-building for secure, innovation-led digitalisation. India also showcased its achievements in Digital Public Infrastructure (DPI), including UPI for real-time payments, India Stack for identity and consent management, and ONDC for unbundled digital commerce. These initiatives were presented as low-cost, standards-based and replicable models to reduce MSME costs, expand access to markets, and enable real-time settlements, including through pilot projects among trusted partners.

On sustainable development, India emphasised equity and the principle of Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC). It highlighted the Mission LiFE (Lifestyle for Environment) initiative and underscored that climate action must be supported by finance and affordable technology flows. India also cautioned that trade-linked climate measures should not result in arbitrary or unjustified discrimination.

India also spotlighted the AVGC sector (Animation, Visual Effects, Gaming and Comics) as an engine of employment, exports and inclusive growth. It recalled its successful hosting of the first-ever World Audio Visual and Entertainment Summit (WAVES 2025) earlier this year, which attracted participants from over 100 countries.

The Summit catalysed multiple initiatives, including Waves Bazaar for global media collaboration, WaveX for creative startup funding, and Creatosphere for talent development through the Create in India Challenge. Through the India Cine Hub, supported by simplified regulatory frameworks and 17 co-production agreements already in place, India is positioning itself as a global film production hub.

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