Case for reviving multilateralism, a WTO-led order

As a leader of the Global South, India must reinvigorate its vision for the WTO and have a proactive and forward-looking agenda for the trade body

- RV Anuradha

The G20 New Delhi Leaders Declaration of September 2023 reaffirmed the indispensability of "a rules-based, non-discriminatory, fair, open, inclusive, equitable, sustainable and transparent multilateral trading system, with WTO at its core". This was reiterated in 2024 during Brazil's G20 presidency.

The 14th World Trade Organization (WTO) Ministerial Conference is scheduled for March 2026 at Yaounde, Cameroon. As a precursor, the WTO director-general met with ministers and high-level officials from nearly 30 WTO members, including India, the US, Australia, China, the EU and Brazil, earlier this month in Paris. The inconclusive end to this meeting foretells further undermining of a beleaguered WTO.

The US's disregard for multilateral rules is one of the key reasons for the deadlock, but that does not let the 165 other member-countries of the WTO off the hook. They too shoulder a significant share of the responsibility for the WTO's fate as well. A key question for India and other countries is whether the rules of WTO are worth preserving despite the unpredictability of the US's actions. There are several reasons why they are.

It is true that WTO rules are far from perfect and need reforms. Yet, however imperfect, a multilateral system of rules is the only logical safeguard against arbitrary action by any one country. The emergence of WTO in 1995 complemented India's liberalization and economic growth. Domestic reform and liberalization could thrive because of the global stability, certainty, and predictability that WTO rules provided.