At the 16th session of the United Nations Conference on Trade and Development (UNCTAD16) in Geneva, India urged developing and least developed nations to present a united front against global trade challenges. Commerce and Industry Minister Piyush Goyal stressed that the Global South must act collectively to address systemic inequalities that limit fair trade and sustainable development.
UNCTAD16: A Platform for Economic Transformation
The conference, held from 20 to 23 October 2025 at the Palais des Nations in Geneva, focuses on the theme “Shaping the Future: Driving Economic Transformation for Equitable, Inclusive and Sustainable Development.” It brings together leaders from 195 member states to discuss economic reforms and shape the organisation’s direction for the next four years.
India’s Call for Collective Action
Goyal urged developing countries to “speak with one voice” against rising trade barriers and unfair restrictions. He said global trust in multilateral institutions has weakened due to volatility and protectionist measures. Developing economies, he noted, continue to face tariff and non-tariff barriers, over-concentrated supply chains, and reduced special treatment under the World Trade Organization (WTO) framework.
Concerns Over Unilateral Policies
India raised concerns about unilateral environmental measures like carbon taxes and restrictive services-sector policies, which disproportionately affect developing nations. Goyal warned that such steps deepen global inequality and undermine fair competition.
Key Facts about UNCTAD16 and Global Trade Issues
| Aspect | Details |
|---|---|
| Event | 16th UNCTAD Conference (UNCTAD16) |
| Location | Geneva, Switzerland |
| Dates | 20–23 October 2025 |
| Theme | Shaping the Future: Driving Economic Transformation |
| Key Issues | Fair trade, inclusivity, sustainable growth, reforming global governance |
| India’s Focus | Collective action by the Global South and trade equity |
| Minister Representing India | Piyush Goyal |
- UNCTAD was established in 1964 to promote development-oriented global trade.
- Global South includes developing nations from Asia, Africa, and Latin America.
- UNCTAD sessions occur every four years to set strategic directions.
- Carbon Border Adjustment Mechanisms (CBAMs) are tariffs linked to the carbon footprint of imports.
Resetting Global Trade for Sustainability
Goyal called for a reset in global trade governance that prioritises equity and sustainability. He emphasised that inclusivity must remain central to global economic transformation, ensuring that developing nations have a fair say in shaping the future of trade.
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