Prime Minister Narendra Modi on Thursday called upon G20 nations to pay more attention to farmers and micro, small and medium enterprises (MSMEs) because of their key role in the global economy. He also underscored the importance of small businesses for India by giving a new definition to MSME – ‘Maximum Support to Micro, Small, and Medium Enterprises’. PM Modi expressed faith in the multilateral trading system under the World Trade Organisation (WTO), which needs to be reformed to meet emerging challenges. “India believes in a rules-based, open, inclusive, multilateral trading system, with the WTO at its core. India has advocated the concerns of the Global South at the 12th WTO Ministerial Conference. We were able to forge consensus on safeguarding the interests of millions of farmers and small businesses.”
Prime Minister Narendra Modi on Thursday called upon G20 nations to pay more attention to farmers and micro, small and medium enterprises (MSMEs) because of their key role in the global economy. He also underscored the importance of small businesses for India by giving a new definition to MSME – ‘Maximum Support to Micro, Small, and Medium Enterprises’. PM Modi expressed faith in the multilateral trading system under the World Trade Organisation (WTO), which needs to be reformed to meet emerging challenges. “India believes in a rules-based, open, inclusive, multilateral trading system, with the WTO at its core. India has advocated the concerns of the Global South at the 12th WTO Ministerial Conference. We were able to forge consensus on safeguarding the interests of millions of farmers and small businesses.”