China has filed a complaint against India in the World Trade Organization (WTO) over New Delhi's subsidies for electric vehicles (EVs) and batteries. Commerce secretary Rajesh Agrawal said that the ministry will look at the detailed submissions made by China.
In a major development, India and the US have agreed to end six trade disputes at the WTO through mutually agreed solutions, while New Delhi will remove retaliatory customs duties on certain American products such as almonds, walnuts, and apples.
India and the US have mutually resolved all six trade disputes pending at the World Trade Organisation (WTO), in line with the commitment made by the two countries during the US visit of Prime Minister Narendra Modi last month, an official said. The official said that both countries have informed the WTO's dispute settlement body (DSB) about the resolution of all the pending disputes. The WTO has already issued a communication with regard to one of the disputes related to the imposition of additional customs duties by India on 28 US products.
American President Donald Trump has announced imposing reciprocal tariffs on its major trading partners including China that levy higher import duties on goods shipped from the United States. He has already announced a 25 per cent duty on steel and aluminium imports, which will come into effect from March 12.
India and the US have settled the last trade dispute at the World Trade Organization (WTO) over poultry products, according to a joint statement released on Friday. With this, the two countries have mutually resolved all the seven pending trade disputes at the WTO. "The leaders lauded the settlement of the seventh and last outstanding WTO dispute between India and the United States.
The WTO dispute panel had its last hearing in early May.
China on Wednesday hit back at United States President Donald Trump's tariffs on Chinese exports with 84 per cent levies on its imports from America, intensifying the trade war between the top two economies of the world.
After India filed its complaint at the WTO in 2012, the dispute settlement panel of the body in July this year had ruled in India's favour against the USA's imposition of higher duties on New Delhi's steel imports.
The top Obama Administration official said the US will negotiate agreements that commit its trading partners to protecting American intellectual property, such as the Anti-Counterfeiting Trade Agreement and the Trans-Pacific Partnership.
The EU is challenging the introduction of import duties on a wide range of ICT products, for instance mobile phones and components, base stations, integrated circuits and optical instruments
March 31 marked 10 years since the Modi government introduced its first Foreign Trade Policy (FTP 2015-20) that lasted for 8 years before the current FTP 2023 came in. Here is a brief assessment. In 2015, the government said that it aims to increase India's exports of merchandise and services from $465.9 billion in 2013-14 to approximately $900 billion by 2019-20 and to raise India's share in world exports from 2 per cent to 3.5 per cent.
China on Tuesday retaliated US President Donald Trump's imposition of 2nd round of ten per cent tariffs on its export by slapping an additional 15 per cent tariffs on American goods and initiated legal action against Washington in WTO while leaving the door open for talks to address each other's concerns.
For India, the challenge is to strike a balance between tactical necessity and economic priorities, point out Pravin Krishna and Monil Sharma.
Here is a list of Q & As to explain these issues and implications of the US move.
Having exhausted its powers to block a World Trade Organization probe into high import duties on wine and spirits, India is likely to slash the rates through a new law to resolve the issue with the European Union and the US.
Commerce secretary Sunil Barthwal is set to attend a two-day meeting from October 23 at the World Trade Organization (WTO) headquarters in Geneva, that would focus on finding solutions and giving the 'necessary political push' for at least some crucial global trade issues. Next week's meeting comes ahead of the WTO's 13th ministerial conference (MC13), scheduled in Abu Dhabi in February 2024. It will see participation of senior government officials from all WTO member nations.
India has defended its decision to ban export of wheat and rice at a WTO meeting even as some member countries have flagged concerns over the country's stand, an official said. At a meeting last week in Geneva, Senegal, the US and the European Union raised questions over this decision, stating it could have adverse implications on global markets. In May, India restricted export of wheat to enhance domestic availability.
India's status as the pharmacy of the world is at stake.
India proposes to take the US to WTO against the latter's visa fee hike, which discriminates Indian software companies from American firms.
India on Wednesday said it had scored a significant gain at the World Trade Organisation in a dispute with European Community over tariff preferences extended by the latter.\n\n\n\n
After the European Union, Taiwan could take India to the World Trade Organisation with regard to its anti-dumping measures.
India has stated that the move would impact Indian IT professionals.
The United States has filed a complaint against China at the World Trade Organisation over the nearly $3 billion of antidumping and countervailing duties that Beijing levies on US automobile exports, saying that such duties abuse trade laws.
US had made similar complaint against India in February.
The United States has approached the World Trade Organisation against India over the high customs duty it imposes on import of wine and distilled spirits.
The change of mind among Indian experts is based on a recent decision of the UK high court.
India asks for consultations on rise in professional visa fee that hurts IT companies' interests
In a major trade victory for India and several other countries, the World Trade Organisation has held as violation of global trade rules a controversial USlaw allowing American companies to collect more than $470 million
'We may see even more restrictive policies during 2.0.'
The European Union said on Friday that it would abide by the World Trade Organisation ruling that has favoured India in the bed linen dispute.\n\n\n\n
Talking tough, India on Friday threatened to drag the European Union to the World Trade Organization if the 28-nation bloc did not lift its ban on the import of Indian mangoes and vegetables.
Protectionist and exclusionary FTAs weaken multilateralism.
The decision preceded long hours of tense negotiations and last minute hiccups from Argentina and Pakistan
India and Brazil raised a trade dispute against the European Union before the World Trade Organization on Tuesday over seizure of generic drugs by EU member countries on high seas.
The government said that far from targeting any US entity, the purpose was to ensure fairness, healthy competition, and to exercise the ability of governments to tax businesses having a nexus with the Indian market through digital operations.
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