India blocks WTO investment pact for 11th time
India has once again said "no" to a China-backed investment deal at the World Trade Organization (WTO), even though 128 countries are on board.
The Investment Facilitation for Development (IFD) Agreement, up for discussion at next year's big WTO meeting in Cameroon, is meant to make global investing smoother—especially for poorer nations.
But this is the 11th time India has blocked it.
Why does it matter?
India worries the deal would limit its freedom to set its own foreign investment rules and could shift focus away from issues like protecting farmers and food security—key priorities for many developing countries.
With South Africa stepping back and Turkey open to talks, India now stands alone in its opposition, sticking firmly to its belief that trade rules should be fair and give developing nations a real say.