Trade cannot flourish if interests of three-fourths of world's population are held hostage to commercial interests of a few rich nations, Commerce and Industry Minister Anand Sharma said at the WTO Ministerial Conference in Geneva.

Conveying India's strong reservations on proposals, which seek to get global trade agreements involving only a small number of WTO members, Mr. Sharma said: “It has come to our notice that suggestions are being made for negotiating issues among a critical mass of members. This path is fraught with risk. Plurilateral agreements are a throwback to the days when decisions taken by a few determined the future of the rest.''

As the Doha round talks continues to linger for almost ten years now, suggestions are being made by rich countries like the U.S. that the key members of developed and developing groupings can sit in smaller groups and work out deals, a move being vehemently opposed by India.

Mr. Sharma said India was open to considering new issues within the mandates of the regular WTO organs as long as these are discussed in inclusive and transparent manner. “The world is not static. Nor are the challenges and issues that affect global trade,'' he said.

India said the countries, which were once harbingers of free trade, had themselves started looking inwards. “Protectionist measures must be resisted by all WTO members and the multilateral institutions must be strengthened. In the challenging backdrop of global economic downturn, all countries must eschew protectionism which can only be counter-productive as it will deepen the recession and delay recovery,'' he added.

He said the need of the hour was enhanced economic engagement and free flow of trade. He said the global community must maintain the spirit of multilateralism. Praising efforts of the multilateral agency he said the WTO has stood as a bulwark against a rising tide of protectionism.