US drags India to WTO over export subsidies; India rules out trade war
The Dollar Business Bureau Few days after threatening with reciprocal taxes on export products from India, the US, under Donald Trump administration, has launched a fresh offensive against it by filing complaint at the World Trade Organisation (WTO) about, what it termed, as its export subsidies programmes such as Special Economic Zones (SEZs) and the Merchandise Exports from India Scheme (MEIS). The US has requested to hold discussions with India on the issue, the first step before taking any legal action. In its request, the US has argued that the incentives provided by India violate the WTO agreements as it has crossed the economic benchmark of $1,000 per capita gross national income (GNI). Under the rules of WTO, India and the US are ...
Reform process started in Doha in jeopardy: India tells WTO
The Dollar Business Bureau The process of agricultural trade reform started during the WTO conference at Doha in 2001 will be in jeopardy if members try to shift focus on new issues, Indian Commerce Minister Nirmala Sitharaman said at the 10th ministerial conference of the global body in Nairobi. “The reform process which was started after the Uruguay Round in the form of the Doha Round appears to be in jeopardy. Negotiations have spilled over into Nairobi, which makes matters very complicated. The manner and haste with which important negotiating meetings are being convened does not inspire confidence,” Sitharaman said. Negotiations on reducing export subsidies, domestic support and import duties on agricultural products were part of the Doha Development Agenda (DDA). ...
Indian sugar industry eagerly waiting for re-introduction of export subsidy: ISMA
Sai Nikesh D | The Dollar Business The Indian sugar industry is hoping that the government will soon take a decision to re-introduce the export subsidy scheme for millers and also increase the incentives to offset the decline in international prices. The Indian Sugar Mills Association (ISMA) said this week that unlike the general perception that all is well in sugarcane payments and exports, the sugar industry in India is struggling with high stocks and low prices ever since the government discontinued export subsidies in September 2014. “The industry continues to eagerly wait for the Central Government’s announcement on continuation of incentive scheme on raw sugar production and exports thereof,” said ISMA in a statement. The Association added that it ...
India may extend sugar export subsidies for select states
Sachin Manawaria | @TheDollarBiz There are indications that the Indian government may continue and increase the sugar export subsidy scheme in this sugar season (October – September) in some states like Uttar Pradesh, where millers have still not paid farmers for the last season. In an event last week, Ram Vilas Paswan, Food Minister, said that the government has not taken any decision on the renewal of the export subsidy scheme after it lapsed in September 2014. He added that the situation has improved but the government continues to monitor it closely and will appeal to millers to clear the remaining arrears closely. Sugar is an essential commodity under the Essential Commodities Act, 1955, in India and international ...
