New Delhi: To provide budding managers a low down on WTO, its functioning, major WTO agreements and issues of present day concern as well of those of future, Delhi School of Management (DSM), the on-campus B-school of Delhi Technological University (DTU) organized a lecture on Tuesday on 'Relevance of WTO for Trade and Industry' by Mr. A. B. Menon, Deputy Secretary, Ministry of Commerce, Government of India.

The lecture was the part of Special Invited Lecture series to provide the management students of DSM a face-to-face interaction with the leading experts from the industry and Government organizations.

In his address, Mr. Menon spoke about the principles of WTO and how it is endeavoured to promote mutually beneficial trade relations without favouring any nation(s) and protecting the interests of both developed and developing member countries.

"Under the WTO regime, it is important to understand the interests of varied members and create a deal which is acceptable to majority," he said.

Mr. Menon informed that market dynamics and industrial forces of some developed countries have begun to play a major role in determining their trade links with other countries and here it becomes the responsibility of the partnering countries to ensure that the interests of their own local industries and workforce are not adversely affected by any such collaboration.

He also spoke about the top trading sectors across the world and how remanufacturing of products is emerging as an important trade area.

"Although remanufacturing is still forming a base in India, India is going to be a hub of remanufacturing in next five-six years," he said.

Delivering his opening remarks, Prof. P. B. Sharma, Vice Chancellor, DTU said, "Tomorrow will belong to India but only if India is able to conform to global practices, employ fair trade practices and create products of international quality that comply with highest safety standards, are energy efficient and environment friendly."

The objective of DSM is to prepare managers of 21st century having a perfect mix of technology temper and managerial acumen to work in the globally competitive technology-intensive environment.

The Special Lecture was attended by Prof. S. K. Garg, Head of DSM, Prof. Asok Bhattacharya, Head of Department of Electronics & Communication, DTU, Prof. Rakesh Kumar, Coordinator, DSM, faculty members, besides students in large number.