The trade referee is already reviewing a European legal challenge of wine and liquor restrictions in a number of Indian states.
Indian medicine accounted for over 50 per cent of all drug seizures in Europe for intellectual property rights violation last year. Industry experts said this indicates the seriousness of the problem. This data was revealed in the recently-released 2009 report of the European Union on the customs enforcement activities of its member states.
The European Union on Tuesday agreed with New Delhi that there needs to be in place some sort of livelihood security for farmers in agriculture negotiations at the World Trade Organisation
The pace of privatisation of the Indian healthcare segment is expected to be the fastest in the coming years.
If the United States has its way in the World Trade Organisation, Indians may soon be able to savour the famed Californian wine for a much lesser price.
Cancun appears headed for a fiasco like Seattle with Tokyo World Trade Organisation mini-ministerial hitting roadblocks.
European Commission has claimed that its agriculture proposal submitted to the World Trade Organisation is fair and a win-win with sufficient safeguards to protect food security of developing countries including India.
A day after the US dragged China to the World Trade Organisation, Treasury Secretary Timothy Geithner is slated to brief two key congressional committees later on Thursday on how the Obama administration plans to make Beijing provide a more-level playing field to American firms.
The country's current account deficit is likely to hit a three-year high of 1.8 per cent or $43.81 billion in FY22, as against a surplus of 0.9 per cent or $23.91 billion in FY21, a report said on Thursday. According to an assessment by India Ratings, the Current Account Deficit (CAD) has moderated to $17.3 billion or 1.96 per cent of GDP in the fourth quarter of FY22 as against $8.2 billion or 1.03 per cent in the year-ago period, and massively down from $23.02 billion or 2.74 per cent in Q3, which was a 13-quarter high. The improvement in the key numbers are due to the remarkable improvement in merchandise exports in FY22, when it grew 42.4 per cent as against a negative 7.5 per cent in the pandemic-hit FY121.
As India has kept out of the multilateral agreement on public procurement, it may find it tough to contest in the WTO the US state of Ohio's ban on offshore outsourcing by government departments, experts said.
India has expressed disappointment over the first draft text for the forthcoming World Trade Organisation Ministerial Conference in Hong Kong
The run-up to the G20 meeting in Seoul, South Korea in November will be busy for members of the World Trade Organisation (WTO). Starting mid-September, various small group meetings will be convened in Geneva to discuss and possibly resolve the outstanding issues in the Doha Round so that the political leaders of the G20 countries can provide a road map for concluding the stalled multilateral trade negotiations and help, revive and sustain global economies.
India has said it is committed to working for a successful conclusion of Doha round of World Trade Organisation talks despite the setbacks witnessed in the recent months.
India may drag US to the World Trade Organisation for its new "protectionist" move in hiking professional visa fees, a step that will make Indian IT companies less competitive in the American market.
The European Union on Wednesday said there would not be any dialogue with India on the World Trade Organisation issues when their political heads meet at the India-EU summit this weekend, even though trade issues will figure in the summit.
Tata Communications (formerly VSNL) has acquired a 50 per cent stake in Beijing-based telecom and IT services firm China Enterprise Communications for an undisclosed sum. The acquisition was done through its wholly owned subsidiary, Tata Communications International Pte.
A senior European Union representative said here on Tuesday that the body would soon change its Customs laws to address the issue of seizures of Indian generic drug shipments while en route for export to other countries.
India on Wednesday maintained that its laws were compliant with the trade related intellectual property rights, dismissing the United States concern over New Delhi's "reluctance" to adopt TRIPS compliant patent law.
'In the new coalition government, India's reform agenda may prioritise job creation and factor market reforms.'
Industry sources said the meeting could be preceded by a business-to-business meeting among the industry leaders from these countries.
Commerce Minister Arun Jaitley will lead a high-power delegation to the WTO ministerial beginning at Cancun in Mexico on September 10 in which India and other developing countries are expected to lock horns with the US and EU on several issues.
The WTO's quarterly outlook indicator, comprising seven trade parameters, stood at 96.3, the lowest since March 2010 and down from 98.6 in November. Exports from India would be hit if there is a slowdown in world trade.
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