WTO experts underscore key insights on trade policy and industrial policy linkages
New Delhi: The role of Production Linked Incentive (PLI) schemes in enhancing manufacturing competitiveness, India's green transition, and inclusive sustainability took center stage at an international conference organized by the Centre for Trade and Investment Law (CTIL).
According to the Ministry of Commerce and Industry, the event, themed "Navigating the Future: Industrial Policy and Global Competitiveness," was hosted in collaboration with the Centre for International Trade and Business Laws, NALSAR University of Law, and the World Trade Institute, University of Bern, under the WTO India Chairs Programme.
Held at NALSAR University of Law, Hyderabad, from January 17 to 19, the conference focused on shaping India's industrial policy within the evolving geopolitical landscape.
The conference featured in-depth deliberations on the resurgence and evolution of industrial policy, its measurement metrics, and its compatibility with WTO regulations.
Experts underscored the significance of WTO disciplines in ensuring that industrial policy initiatives align with a rules-based international trading system. The discussions highlighted India's efforts in fostering resilient global supply chains and energy transition strategies.
Prof. James J. Nedumpara, Head of CTIL, in his welcome speech, emphasized the role of green industrial policy in driving innovation and technological advancements.
This was followed by a presidential address by Prof. Srikrishna Deva Rao, Vice Chancellor of NALSAR University of Law. Former WTO Appellate Body members Ujal Singh Bhatia and Professor Peter Van den Bossche provided key insights into the intersection of trade policy and industrial strategies.
Addressing the gathering, Dammu Ravi, Secretary (Economic Relations), Ministry of External Affairs, underscored India's potential as a pivotal player in the global critical raw materials supply chain.
He emphasized that any strategy for value chain integration must prioritize value creation within India, generating employment and economic opportunities.
Montek Singh Ahluwalia, Former Deputy Chairman of the Planning Commission, noted the global shift from free trade to protectionism amid challenges posed by China's economic rise and evolving US policies.
He stressed the need for well-calibrated interventions in critical industrial sectors, transparency in PLI initiatives, and adherence to WTO norms to ensure economic security while maintaining global competitiveness.
Renowned scholars and trade policy experts, including Dr. Werner Zdouc, former Director of the Appellate Body; Sumanta Chaudhuri, Head of Trade Policy at CII; Dr. Pritam Banerjee, Head of the Centre for WTO Studies; Prof. Henry Gao, Singapore Management University; Prof. Abhijit Das, former Head of the Centre for WTO Studies; Dr. Alicia Gracia, Senior Fellow at Bruegel; and Dr. Isabelle Van Damme, Director of the World Trade Institute, contributed valuable insights into India's evolving industrial framework.
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