Join investment pact: WTO chief to India

WORLD TRADE ORGANIZATION (WTO) chief Ngozi Okonjo-Iweala on Tuesday asked India to join the Investment Facilitation for Development Agreement, which was initially sponsored by China and has since then garnered support from several other member countries of the multilateral body.

- Mukesh Jagota

"We need India as a leader. India is a leading country, and India is doing well. So, India needs to open the way for other developing countries. For example, we want (India to) support investment facilitation for development because so many developing countries—90 out of the 126 who are members—would like to move with this," she told reporters after meeting commerce and industry minister Piyush Goyal here.

India's opposition to the agreement stems from the fact that it will reduce its policy space on investment matters and its stance that the WTO should rather focus on trade-related matters.