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Global Biz Needs Stability Amid Fragmentation, Says ICC Chair at Raisina

The Chair of the International Chamber of Commerce, Philippe Varin, emphasized that predictability and stability are fundamental for business operations and long-term investment in a fragmented world. He warned that a collapse of the WTO could cost developing economies 5-10% of their GDP, as bilateral agreements weaken multilateral consensus. Speaking at the Raisina Dialogue in New Delhi, Commerce Minister Piyush Goyal stated India will engage with an open mind on these trade issues at the upcoming WTO ministerial. Both leaders praised the Raisina Dialogue for establishing itself as a premier global platform for high-level geopolitical discussion.

Key Points: ICC Chair Calls for Predictability in Fragmented Global Business

  • Predictability key for business investment
  • WTO collapse could cost emerging economies 5-10% GDP
  • Pragmatic reforms and common principles needed
  • Bilateral deals complicate multilateral consensus
  • Raisina Dialogue emerges as major global forum
3 min read

Global businesses require predictability and stability amid growing fragmentation, says International Chamber of Commerce Chair

ICC Chair Philippe Varin warns of WTO collapse risks, stresses need for stability & pragmatic reforms for investment at Raisina Dialogue 2026.

"What is absolutely essential in this world? For the business, we need predictability, we need stability. - Philippe Varin"

New Delhi, March 8

Business operations and long-term investments require a foundation of predictability and stability to succeed in an increasingly fragmented global environment, said Philippe Varin, Chair of the International Chamber of Commerce, France, on Saturday. He noted that pragmatic reforms and common principles are essential for fostering investment as geopolitical shifts continue to complicate the international landscape.

Speaking to the media on the sidelines of the Raisina Dialogue event in New Delhi, Varin stated, "What is absolutely essential in this world? For the business, we need predictability, we need stability, and if you want the investment to be done. And for this to happen in a world which is more and more fragmented, we should have common principles but also make very pragmatic reforms. The International Chamber of Commerce is here to make proposals based on the question on the ground...I am feeling very good after attending the Raisina Dialogue 2026"

Earlier, during a panel discussion at the same event, Varin highlighted the fragility of current international partnerships. He questioned how businesses can compete in technology while maintaining meaningful collaborations.

"How can businesses compete in #technology while still forging meaningful partnerships? Supply chains have grown increasingly complex, and critical materials are vital for mobility, energy, and sustainability. Partnerships are essential--but without shared principles, they remain fragile," Varin said.

Varin also pointed out the risks associated with the weakening of established trade bodies. "If the WTO were to collapse, developing and emerging economies could lose 5-10% of their GDP. The growing number of bilateral agreements is further complicating the pursuit of multilateral consensus," he said.

Speaking about the WTO, Commerce and Industry Minister Piyush Goyal noted that India is positioning itself to address these trade challenges during the upcoming international forums. Also speaking to the media at the Raisina Dialogue, the minister said that New Delhi intends to engage with global partners on these critical issues.

"We have the WTO ministerial coming up end of this month. We'll discuss these issues with an open mind during the WTO ministerial," Goyal said while speaking on the sidelines of the Raisina Dialogue in New Delhi.

Goyal also praised the Raisina Dialogue, India's flagship conference on geopolitics and geo-economics, for emerging as a major international platform that attracts policymakers, diplomats and experts from around the world.

"Raisina Dialogue makes India proud. It has truly established itself on the global stage as a must-attend event," he said. "Very high-quality discussions, very high level of participation both from India and internationally."

- ANI

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Reader Comments

S
Sarah B
The point about developing economies losing 5-10% GDP if WTO collapses is terrifying. India has so much to gain from a stable, rule-based trading system. Hope our negotiators at the ministerial can push for pragmatic reforms. 🤞
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Priya S
It's good to see global leaders acknowledging the importance of platforms like Raisina Dialogue. India's voice on geo-economics is getting stronger. But talk is cheap - we need to see actual action on simplifying supply chains and tech partnerships.
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Vikram M
The fragmentation is real. Every country is looking out for itself first. While "common principles" sound ideal, in practice it's very difficult. India should focus on building strong bilateral ties while also engaging multilaterally. Jai Hind! 🇮🇳
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Rohit P
As a startup founder in Bangalore, I feel this daily. Competing in tech while trying to partner globally is a tightrope walk. Investors keep asking about "geopolitical risks". We need more predictability, like the gentleman from ICC said.
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Michael C
A respectful criticism: While stability is crucial, sometimes too much predictability can stifle innovation and agility. The key is finding a balance. India's policy on electronics manufacturing, for instance, provided predictability that attracted investment.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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