New Delhi: India’s commerce and industry minister Piyush Goyal has called on the Global South to speak with one voice to address rising uncertainty, inequality and distrust in the global trading system, warning that the rules-based order was under strain from unilateral measures and protectionist barriers.

Speaking at the 16th Session of the United Nations Conference on Trade and Development (UNCTAD) in Geneva on Wednesday, Goyal said the world was experiencing “an era of profound trust deficit” across multilateral institutions, international bodies, and even nations. Tariff and non-tariff barriers, non-market practices, and over-concentrated supply chains were eroding confidence in the global trading system, he added.

Various countries' unilateral restrictions on technology and services

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