"We must recognise that we have not been able to move, that there remain major gaps and that there is crisis,” he said, adding that he would leave Geneva and return to New Delhi.
Earlier, WTO chief Pascal Lamy issued a stern warning to governments in the 149-nation body, saying they could no longer afford to miss a deal after missing a host of deadlines during almost five years of talks.
"I would urge all of you to reflect seriously and urgently on what the implications might be before it really is too late, and to reassess your positions and the way you have been negotiating," he said.
"If things don't turn around radically in the next hours, we will quite frankly be facing a crisis.”
Agriculture has long been a sticking point in the trade talks.
The EU and US clash over how far they can go to cut tariffs on agricultural imports and domestic farm subsidies, a key issue for the world's poorest countries.
At the same time Europe wants tariffs on manufactured goods to be significantly reduced and greater priority to be given to freeing up trade in services such as IT, finance and transport.
About 60 ministers present at the talks in Geneva are set with the task of resolving farm and manufacturing trade issues by tomorrow.
The need to reach agreement over trade becomes ever more pressing as the deadline for the Doha round of global trade talks looms ever closer.
The goal of the talks, which were launched in 2001, is to tear down trade barriers and help developing economies accelerate economic growth.
Negotiations were originally meant to finish in 2004, but the end-date was later pushed back to December 2006.
US presidential powers to negotiate trade talks come to an end in 2007.
'Growing gap between rich and poor'
Meanwhile a UN report has stated that globalisation has failed to narrow the glaring inequalities between rich and poor nations.
In response, the UN has called for developing countries to be given more space to build up their national economies.
The UN's "2006 World Economic and Social Survey" said that - once China and India were excluded from the calculation - inequalities between countries around the world had grown sharply in recent decades.