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US lauds India's lifting of QRs

The United States has said India has achieved a "truly historic result" by removing Quantitative Restrictions on imports of remaining agricultural, textile and industrial products from April 1.

Lifting of QRs on the rest of the 715 items on schedule was a "very important step" for India and all its trading partners and the US would monitor the process, senior official of the American Trade Representative's Office, Charles Benser, told the World Trade Organisation.

"The US wishes to congratulate India on the efforts it has undertaken to achieve this truly historic result," he told a meeting of the Dispute Settlement Body of WTO.

The DSB formally took note of the seventh and final status report by India on implementation of WTO rulings on lifting import curbs.

Benser said the US government was reviewing the Exim policy announced by Commerce Minister Murasoli Maran last week on freeing the 715 items from import curbs. QRs on the first list of 714 tariff lines were phased out on April 1, 1999.

European Union ambassador Troyan said EU was "pleased" with India's action in lifting the curbs.

After a prolonged trade dispute at the WTO, India and the US reached an agreement on December 28, 1999 on permitting a "reasonable period of time" for implementation of WTO rulings.

Acting on a US complaint in 1997, a WTO panel and the appellate body found India's import curbs were no longer justified on Balance of Payment grounds and urged the two countries to work out an agreement to lift them.

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