Context
During India’s WTO Trade Policy Review, several members questioned its opposition to plurilateral agreements on e-commerce and investment facilitation
Explanation
- The World Trade Organization (WTO) is based on multilateralism, where agreements generally apply to all members.
- The World Trade Organization (WTO) is headquartered in Geneva, Switzerland.
- Plurilateral agreements are negotiated by a limited group and bind only participating members.
- India argues that their incorporation into WTO law requires consensus.
- The Marrakesh Agreement permits plurilateral agreements under Annex 4.
- India opposes the Investment Facilitation for Development Agreement, as investment is not considered a core trade issue.
- It has also questioned interim arrangements for the Agreement on Electronic Commerce.
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Investment Facilitation Agreement and India’s WTO Stand