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India is aiming to seek a revival of the WTO's defunct dispute resolution mechanism at the G20 Trade and Investment Ministerial Meeting (TIMM) in Jaipur. Commerce and Industry Minister Piyush Goyal said that he has communicated India's desire for WTO's modernisation, as per the need of the hour, to the multilateral body's Director General.

The G20 Trade and Investment Ministerial Meeting is scheduled to be held in Jaipur on 24-25 August. Emphasising on the rules-based multilateral trading system, Goyal told journalists that India aims to deepen its engagement at the WTO to further the voice of the developing world and build global consensus for people in these countries. He said that issues like different levels of development, common but differentiated responsibilities and consensus need to be looked at while modernising WTO.

Goyal, while acknowledging the contribution of all G20 member countries, invoked a "Jaipur call for action" at the G20 meet to promote the MSME sector and bridge gaps for them to expand trade across geographies. In addition, referring to the five priority aims of the meet: Trade for Growth and Prosperity, Resilient Trade and Global Value Chains GVCs, Integrating Micro, Small & Medium Enterprises MSMEs in World Trade, Logistics for Trade and World Trade Organisation (WTO) Reforms; he hoped that the significant progress observed till now will culminate in the meetings over the next 2 days.

While the member countries have deliberated on the principles for digitally connected supply chains, Goyal said that India is also focusing on integrating MSMEs in global trade and on livelihoods for farmers and workers for global good. While stating that it has been difficult for ministers from G20 countries to reach a common consensus on the Russia-Ukraine war, he added that India is expecting a strong outcome document after the meeting tomorrow.