WTO has reduced business forecast for 2018 to 3.9 percent

The World Trade Organization (WTO) has reduced business forecast for 2018 to 3.9 percent on Thursday. The organization had estimated an increase of 4.4 percent during the year at the beginning of the year.

Stressing the need for India to take it seriously, he said that due to the slowing of trade expansion, all the countries would be harmed.

Commerce and Industry Minister Suresh Prabhu tweeted, "All countries need to take this warning seriously because the slowing of global trade will harm everyone, especially the developing countries, the highest number. We are trying to grow tension in this way and also to protect our interests in adverse circumstances. WTO is very important in terms of global trade".
The WTO has said that due to the rising trade tension and the situation of tightening debt in important markets, the growth of trade in this year's time and 2019 can be sluggish. The organization said in a statement, Business growth will continue but will be slower than earlier estimates. The WTO estimates that in 2018, commodity trading will increase by 3.9 per cent, while in 2019 business expansions will be 3.7 per cent. "