India opposed the China-led investment facilitation proposal at WTO.
On the third day of the WTO conference, India and South Africa opposed the China-led Investment Facility for Development (IFD) proposal as part of the formal WTO framework.
A China-led group of over 120 countries are pushing for the Investment Facilitation for Development Agreement (IFD) proposal to make part of the World Trade Organisation (WTO).
India argued that WTO should deal with issues related to trade and it is a non-trade issue. India is against bringing this into the WTO framework.
The China-led group wants to bring the proposal through annexure-4 of the WTO. It would be binding only on the signatory members.
India said that it would be a violation of the WTO framework and fundamental rule of consensus-based decision-making.
The Investment Facilitation for Development Agreement (IFD) was first proposed by China in 2017. The countries with sovereign wealth funds are part of this agreement.
India also opposed the e-commerce moratorium extension beyond March 31.
