| Plurilateral Agreement: A Plurilateral pact is binding on not only its signatories but also on non-members.India, South Africa, the U.S. and some others are non signatories to IFD Pact.India was concerned that it would put the onus on the government to consult investors on policy matters.South Africa also blocked the move. |
India is under pressure at the WTO to give its consent for the inclusion of the proposed China-led Investment Facilitation for Development (IFD) pact in the formal WTO framework as a plurilateral agreement.
- In the WTO’s General Council, the highest-level decision-making body in the WTO, New Delhi continued to oppose the move stating investment is not an issue for discussion at the WTO.
- India has maintained its position on the issue, as outlined at the WTO 13th Ministerial Conference (MC13) in Abu Dhabi in February 2024.
- At the WTO MC13, a joint ministerial declaration was issued by Trade Ministers from 123 WTO member countries, including the EU, finalising the IFD pact.
Dig Deeper: What is the Doha Development Agenda and new issues introduced in WTO negotiations?
