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Goyal calls upon countries of Global South to help build resilient supply chains
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IANS | 13 Jan, 2023
Commerce Minister Piyush Goyal on Friday called upon countries of the
Global South to forge new partnerships for building resilient supply
chains, increasing trade and promoting tourism.
Addressing
the virtual Voice of the Global South summit, Goyal said that India is
providing unilateral duty-free market access to least-developed
countries (LDCs) since 2008 through the duty-free tariff preference
(DFTP) scheme, and therefore it is also open to enter into preferential
trade agreements (PTAs) with interested countries in the South.
Highlighting
the impact of Covid-19 on global trade and particularly on developing
countries, he stressed upon the need to work together to build resilient
supply chains. Goyal also emphasised upon the need for
de-politicisation of the global supply of essential medicines.
"At
the WTO Ministerial Conference held in Geneva in June 2022, India,
South Africa, and other developing countries worked together to obtain
the TRIPS waiver decision providing equitable and affordable access to
vaccines. We shall redouble our efforts at the WTO to get the TRIPS
waiver extended to Covid-19 diagnostics and therapeutics," said the
Commerce minister.
He highlighted that the countries of the
Global South are now contributing to more than half of the world's
economic growth with South-South trade touching $5.3 trillion in 2021.
In this regard, he urged for enhanced trade linkages for the mutual
benefit of all our countries.
The Commerce Minister further said
that the southern countries are also driving world investment. Indian
companies are also investing in abroad in a big way, including in the
Southern countries, he noted.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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