Piyush Goyal Pushes for WTO Reforms to Bolster Global Trade

Commerce and Industry Minister Piyush Goyal has stressed the urgent need to finalize the dispute resolution mechanism of the World Trade Organisation (WTO) as an essential step to uphold the body's core philosophy. This remark comes in the lead-up to a mini-ministerial meeting on June 3, where major economies will deliberate on strengthening multilateral trading systems and WTO reforms.

During his two-day visit to France, Goyal will engage with French leaders and business representatives to enhance trade ties and attract investments in India. The focus sectors include defence, space, sustainable growth via green technologies, and smart manufacturing. The minister noted the critical role of WTO reforms in maintaining principles of consensus and special treatment while expanding international trade.

Goyal is set to meet with CEOs of prominent French firms, promoting investment opportunities in India's vast market of 140 crore people. Additionally, he will invite French finance companies and wealth funds to explore growth potential in India's banking, pension, insurance, and investment sectors. Highlighting cultural ties, he spoke of a new Swaminarayan temple near Paris and the upcoming Yuga Yugen Bharat National Museum, set in the historic government buildings relocated to modern sites.

(With inputs from agencies.)