Union Minister for Commerce and Civil Aviation Suresh Prabhu today said the existence of multilateral trading platform WTO is now "under threat", but India strongly supports its need for regulating trade norms.
Some WTO member countries are now questioning the accepted trading norms, and this has manifested in the form of the "most challenging period in the last 70 years" of global trade, he said.
Speaking to exporters at a FIEO event here, Prabhu said, "The very existence of WTO is now under threat. But, if there is no WTO, all countries will face problems. There will be chaos."
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