India expects WTO to contribute to reducing global inflation

India expects the World Trade Organisation (WTO) to contribute to limiting global inflation. Currently, inflation is severely affecting most of the economies of many countries around the globe. According to a statement by India, delivered by Ambassador Permanent Representative to the WTO, Brajendra Navnit, the World Trade Organisation should revive the economy.

Brajendra Navnit said, “The present situation has got a new important problem...and that problem is the increasing inflation in most of the domestic economies. These are getting transmitted through food, fertilizer, and fuel crisis and it is going to devastate the economy. It is going to wipe out a lot of gains which were made before the pandemic” He said this during an informal meeting of the trade negotiations committee (TNC) and head of delegations (HoDs), on May 4.

For the 12th ministerial conference, he said, "we think that the WTO has a role to play to take care of these important problems.” He further informed that India is expecting forward to a successful MC that will deliver on the critical issues which the world is confronting including the current food crisis and the ongoing pandemic.