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New Delhi : Commerce and Industry Minister, GoI, Piyush Goyal on November 18, 2021, said the WTO needs to reassess the way it has been conducting its affairs. Pointing out that certain countries don’t give market access equitably and extend hidden subsidies, Goyal said the developed countries should do more and meet their obligations such as providing clean and green technology to achieve the SDGs and achieve Climate goals and meet the needs of billions of people.
“ It’s so unfair! I can understand a discussion on which countries should be considered developing and which should now be considered developed, I think the world should be open to a discussion on that. But to deprive countries from certain differentiated treatment in their business practices when they are at levels of $600-3,000 per capita income and putting them on the same benchmark as a country which makes $60,000 or $80,000 per capita is grossly unfair. So, I think the developed world should look at their priorities,”said Goyal while interacting during a session on “Enhancing Global Footprint: India’s Big Opportunity” at the CII Global Economic Policy Summit -2021 here, according to a PIB release.
Pointing out that the world’s second largest number of STEM Graduates are Indians or Persons of Indian Origin, Goyal said, “ The most powerful countries in the world today are concerned about the growing dominance of non-transparent and non-market economies and, therefore, are looking to engage with India because in their own ecosystem they are not preparing as many STEM graduates as a country like India does.”
Stating that the world is looking at India’s contribution to Innovation and Sustainability, Goyal said, “ Our industries will play a critical role in growing our global footprint as we undertake bold reforms for achieving aggressive targets.” Goyal said the Government should have no role in running businesses, rather it should act as a facilitator.
“Boosting the role of the private sector and engaging both the Government and the private sector to work possibly through private-public partnerships, through greater engagement with the private sector and the government, but leaving the work of running businesses to business. So the Government’s role should be facilitating businesses more and more. And Prime Minister Narendra Modi has over the last seven years focussed a lot on getting businesses to be run by business persons and government to act more as a facilitator. And we hope to be able to take that forward in a much bigger way,” Goyal added
Goyal said that PM Narendra Modi had assured at the G20 Summit that India will manufacture five billion vaccine during the next year to make the world a safer place.
“The world’s first DNA vaccine is coming out of India, the world’s first nasal vaccine, we will soon have a RNA vaccine which will match the best in the world. In fact, it will be better than the best in the world, it won’t need Minus 60-70 degrees temperature to store that vaccine, it can be done between Minus 2-10 degree. Look at the huge impact it will have on the logistics chain and the ability to deliver that worldwide at affordable prices in a very cost competitive manner,” he said.
Goyal said: “The contribution that India is proposing to make in the next few months completely overrides the contribution of any other country or any other region when it comes to truly making vaccine available to every nook and corner of the globe, particularly the Less Developed Countries and the developing countries.”