Geneva, October 22, 2025
- At the 16th United Nations Conference on Trade and Development (UNCTAD16) , India urged developing and least developed nations to unite in confronting global trade inequalities. Commerce and Industry Minister Piyush Goyal called for the Global South to “speak with one voice” to ensure equitable participation in the international trading system.
UNCTAD16 Overview:
- Held from 20–23 October 2025 at the Palais des Nations, Geneva , and themed “Shaping the Future: Driving Economic Transformation for Equitable, Inclusive and Sustainable Development” , UNCTAD16 gathers representatives from 195 member states to set priorities for the next four years.
India’s Stand:
- Minister Goyal highlighted growing challenges such as tariff and non-tariff barriers , over-concentrated supply chains , and declining special treatment under WTO rules. He warned that unilateral environmental policies , including carbon taxes , and the digital divide are deepening inequality and hindering development goals.
Call for Reform:
- India stressed the need to rebuild trust in multilateral trade systems , warning that protectionist measures and unilateral actions threaten sustainable growth. Goyal called for a global trade reset that emphasizes inclusivity, fairness, and shared prosperity .
Key Facts:
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UNCTAD was founded in 1964 to promote development-oriented integration into the world economy.
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The Global South comprises developing nations across Asia, Africa, and Latin America .
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UNCTAD sessions occur every four years to define global trade priorities.
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Carbon Border Adjustment Mechanisms (CBAMs) impose carbon-related tariffs on imports.
India’s message at UNCTAD16 reinforces its role as a leading voice for the Global South , pushing for a more equitable and sustainable international trade order .
Month: Current Affairs - October 23, 2025
Category: international diplomacy