Conference: India's Industrial Policy and Green Shift

The evolving geopolitical landscape, the role of Production Linked Incentive (PLI) schemes in a manufacturing revival, and India's green and inclusive path to sustainability were the central themes at an international conference of the Centre for Trade and Investment Law (CTIL). The conference, "Navigating the Future: Industrial Policy and Global Competitiveness," took place on January 17-19, 2025, at NALSAR University of Law, Hyderabad. The event was jointly hosted by the NALSAR University Centre for International Trade and Business Laws, the World Trade Institute, University of Bern, and the WTO India Chairs Programme.

Key issues included debates on the nexus between trade and industrial policy, particularly within the World Trade Organization (WTO) context. Scholars reviewed the WTO disciplines' role in guaranteeing industrial policy interventions that are consistent with a rules-based trading system globally. The conference also touched upon the international energy transition and the place of India in accessing supply chains' essential raw materials.

The forum opened with questions regarding the re-orientation of industrial policy, metrics for success of such policy, and policy WTO compatibility. Experts spoke about green industrial policy necessary to fund technological innovation and economic restructuring. There were sessions in the conference that included topics of worldwide trends for the divergence away from free trade to protectionism and the effect of the rising economy of China on global markets. Panelists discussed how emerging countries like India can engage in international energy transitions and establish value chains locally and create employment.

Among the key speakers at the event were top scholars and policymakers of international trade. Several retired members of the WTO Appellate Body, CII trade policy specialists, faculty members in the likes of Singapore Management University, and the Centre for WTO Studies team were aboard. Agenda points brought to the table included the exchange of trade, policy intervention in key industries, schemes transparency such as PLI schemes, among numerous other issues. Consonance across the board emphasized the strategy involved in the direction of economic security and global competitiveness.

The plenary session indicated integration of India with the international supply chain without abandoning WTO conformity. Experts identified a shift in the policy of world trade, as major economies were using protectionism as a strategy to safeguard home industries. The talks emphasized the need to form cost-effective industrial policy that reaches maximum competitiveness without infringing global trade obligations.

One of the conference highlight events was the release of the new monthly investment law newsletter "Investment Law Compass: Navigating through the Global Investment Framework" of CTIL. The newsletter will provide information regarding investment law and how it is evolving, which will be for professionals and enthusiasts both. The newsletter will be accessible on the web at www.ctil.org.in.

The conference was concluded by a valedictory address capturing the essence of the key issues discussed and re-emphasizing the importance of international cooperation in determining industrial policy. The organizers acknowledged the role of institutions and experts who took part and reasserted the relevance of the conference in addressing issues of contemporary trade and policy.

Source:Press Information Bureau (PIB), Government of India