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India can play crucial role in reforming WTO: Ficci

Press Trust of India  |  New Delhi 

can play a crucial role in reforming the WTO by drawing nations to the discussion table for finding a workable solution, as the country is set to host the summit in 2022, industry body said Monday.

Saturday highlighted the need for carrying out reforms in the WTO at the summit in

He said that reforming the WTO is very important and it is also necessary to carry the dialogue on trade, services and promoting the global in the agricultural sector.

"With the nations agreeing for the required reforms in the multilateral trading platform WTO, India's role in this exercise will be critical in bringing together all the countries to the discussion table for finding a

"As the country will be hosting the summit in 2022, it can play an important role in helping the positive results of the meeting deliver concrete results," said.

The meeting between US and Chinese in has shown positive outcomes. In all probability, it will succeed in defusing the impending global trade war, which threatened to impact trade in a major way, he added.

Escalating tensions between the two major trading nations has been a cause of deepening concern in terms of its adverse impact on the financial markets and across the world, Shah noted.

"The very fact that no additional tariffs will be imposed by the US and both the two sides will engage in negotiations, is a big relief for other trading nations, including India," the president said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 03 2018. 17:15 IST