Drop in world commerce might be biggest since the Great Depression
G20 leaders pledged last week to inject over $5 trillion into the global economy to limit job and income losses caused by border closures and sweeping shutdowns
The US in July had dragged India to the WTO by filing a complaint against New Delhi's move to increase customs duties, alleging the decision as inconsistent with the global trade norms
As confidence of member nations plummets, reforming the global body itself forms the core agenda for many countries
Roberto Azevedo pledged to start immediate efforts to find a "permanent solution" for the Appellate Body
The restrictive measures cover an estimated USD 460.4 billion worth of traded merchandise, an increase of 37 per cent over the same period previous year.
Outbound trade fell by 6.57 per cent in September, to a three-month low with the trade decline plaguing major foreign exchange earners
Experts say the country will break its commitments under WTO once higher tariffs against US kicks in on August 4
Business Standard explains the issue that is said to have derailed the WTO negotiations at Buenos Aires
Differences in negotiation capability on display