Abu Dhabi [UAE], February 29 : India presented its views on the importance of digital industrialization and how this emerging segment of the global economy holds the promise for economic development and prosperity for developing countries, including the least developed countries (LDCs).
At the ongoing 13th ministerial conference of the WTO, India stressed that all policy options should be available for the WTO members to pursue for promoting digital industrialisation.
As per an official release, India stressed that currently, a few firms based in developed countries dominate the global landscape of e-commerce.
India explained that there was a huge digital chasm between developed and developing countries, which makes it challenging to increase the participation of developing countries in global e-commerce.
India reiterated that with the digital revolution still unfolding and with the increasing diffusion of technologies such as additive manufacturing and 3D printing, data analytics, artificial intelligence, and the Internet of Things, there was a need for a re-examination of the implications of the moratorium on customs duties on electronic transmissions, particularly for the developing countries and the LDCs.
India said that developing countries need to focus on improving their domestic physical and digital infrastructure, creating supportive policy and regulatory frameworks, and developing digital capabilities. India's own digital transformation is powered by its unshakeable belief in innovation and its commitment to speedy implementation.
Through the Digital Public Infrastructure (DPI) approach, India is promoting innovation, democratising technology and fostering a competitive ecosystem for digital businesses. DPI has spurred a national technology revolution in areas like commerce, credit, healthcare, payments, e-governance, citizen services among others. India's own experience shows that a broad thrust on digital infrastructure, skills, education and enabling policies has spurred rapid, population-scale digitalization.
Ministers and delegates from across the world gathered in Abu Dhabi for a four-day World Trade Organization (WTO) meeting that began on February 26, to discuss and deliberate upon global trade rules.
WTO is a global watchdog, founded about three decades ago, now has 166 member countries, including India. This year, Timor-Leste and Comoros have been added as members of the WTO.
The World Trade Organization's (WTO) 12th Ministerial Conference (MC12), the last edition, was held in Geneva, Switzerland from June 12-17, 2022.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor