During a recent event in New Delhi titled 'WTO MC14 Outcomes and the Future of the Multilateral Trading System,' experts including Pascal Lamy (former Director-General of the World Trade Organization) and Shashi Tharoor (Member of Parliament) discussed the challenges facing the WTO. Lamy noted that while protectionism is decreasing, 'precautionism' is on the rise, leading to discrepancies in regulations that may complicate international trade. The discussion highlighted the importance of reforming not only the WTO's rules but also its governance structure. Shashi Tharoor pointed out that the current geopolitical landscape has created deeper frictions within the WTO, which require innovative solutions like plurilateral negotiations. However, experts warned that without proper safeguards, these plurilateral agreements could lead to fragmentation of the global trading system. There was broad consensus on the necessity for India to engage in these negotiations to align with its leadership ambitions in global trade. The event concluded with a call for a campaign, 'Trade, Not Just Aid,' aimed at restoring faith in multilateralism and the WTO's role in facilitating international trade.