New Delhi, June 11 -- Union Commerce and Industry Minister Piyush Goyal on Thursday said the World Trade Organization (WTO) is "not very effective right now", but asserted that global trade continues to function under the WTO framework and that India remains committed to expanding trade and investment partnerships despite rising protectionist trends.

Addressing the closing session of the fifth Annual Meeting of the India Global Innovation Connect (IGIC), Goyal said, "Fortunately, the WTO as a forum is not very effective right now. So action has to be almost bilateral, oftentimes in cooperation. But with that, as it may, I think, all world trade, at the aggregate, is still very much in its place, still working under the WTO framework."

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