India on Saturday said it has strongly opposed the China-led Investment Facilitation for Development (IFD) Agreement being incorporated into the World Trade Organisation (WTO) framework, flagging concerns over its systemic implications, PTI reported.The issue was raised at the ongoing 14th ministerial conference (MC14) of the WTO in Yaounde, Cameroon, where Commerce and Industry Minister Piyush Goyal said such a move could weaken the institution’s foundational structure.“Incorporation of the IFD agreement risks eroding the functional limits of the WTO and undermining its foundational principles,” Goyal said in a social media post.“At #WTOMC14, drawing inspiration from Mahatma Gandhi ji’s philosophy of Truth prevailing over conformity, India showed the courage to stand alone on the contentious issue of the IFD Agreement and did not agree to its incorporation into the WTO framework as an Annex 4 Agreement,” he said.Annex 4 of the WTO Agreement contains Plurilateral Trade Agreements that are binding only on members that have accepted them, unlike multilateral agreements which apply to all members.Goyal said that as part of WTO reform discussions, members are deliberating on guardrails and legal safeguards for plurilateral agreements before integrating any such outcomes into the framework.“In view of the systemic issue at hand, India showed openness to have good faith, comprehensive discussions and constructive engagement under the WTO Reform Agenda,” he added.India had also opposed the pact during the WTO’s 13th ministerial conference (MC13) in Abu Dhabi.The Investment Facilitation for Development proposal was first mooted in 2017 by China and a group of countries that rely significantly on Chinese investments, including those with sovereign wealth funds. The agreement, if adopted, would be binding only on signatory members.

Vijaypat Singhania, former Raymond chairman, Padma Bhushan awardee and noted aviator, has passed away.He died in Mumbai at the age of 87.His son Gautam Singhania, chairman and managing director of the Raymond Group, announced the death on microblogging platform X.A company spokesperson said Singhania passed away “peacefully” and his last rites will be performed on Sunday, reported PTI.A recipient of the Padma Bhushan, Vijaypat Singhania was known not only for his leadership at Raymond but also for his passion for aviation. He held a world record for achieving the highest altitude in a hot air balloon.He led Raymond as chairman for around two decades until 2000, after which he handed over the reins of the company to Gautam Singhania. He had also transferred his entire 37 per cent stake in the company to his son.Vijaypat Singhania and Gautam Singhania were later involved in legal disputes, which were subsequently resolved.

Jubilant FoodWorks Ltd (JFL), which operates Domino’s Pizza and Dunkin Donuts in India, has reported constraints in LPG cylinder supplies across parts of its store network due to the ongoing West Asia war, according to ET.In a filing to the BSE, the company said, “Operational impact at this stage is limited and being actively managed. The company is taking several steps to conserve LPG and working overtime to move to alternate energy sources like electricity and piped natural gas (PNG).”It added that it is in continuous touch with oil marketing companies to track developments and respond to the evolving situation. “The company is in constant engagement with oil marketing companies (OMCs) to remain apprised of the latest developments and plan operational responses accordingly, given the rapidly evolving nature of the situation,” the filing said.The company noted that it is closely monitoring the situation as supply disruptions persist.The impact is being felt across the restaurant industry, with several chains facing similar challenges due to LPG shortages.On March 10, the National Restaurant Association of India (NRAI) had advised its five lakh members to consider shorter operating hours, reduce items requiring long cooking times or deep frying, and adopt fuel-saving measures such as using lids while cooking, in view of supply constraints linked to the Gulf war.