No decision taken on revoking MFN status to Pakistan
The Dollar Business Bureau Despite the ongoing tensions between India and Pakistan, the Indian government is yet to decide on revoking the most favoured nation (MFN) status given to Pakistan, Commerce and Industry Minister Nirmala Sitharaman informed the Parliament on Monday. India accorded the MFN status as part of the World Trade Organisation’s (WTO) General Agreement on Tariffs and Trade (GATT) to Pakistan in 1996; a year after the World Trade Organisation (WTO) was formed. Pakistan, on the other hand, has not yet granted the MFN status to India. Instead, it has adopted the Non-Discriminatory Market Access (NDMA) agreement with India. When asked if the government has any proposal to revoke MFN status to Pakistan, Sitharaman said: “No such decisions have been taken so ...
India soon to file 16 cases against US at WTO
The Dollar Business Bureau India will file as many as 16 cases against the US at the World Trade Organization (WTO) as some US programmes in the renewable energy sector are not in accordance with WTO norms, Commerce and Industry Minister Nirmala Sitharaman told Parliament on Wednesday. She said that India believes certain renewable energy programmes of the US at the sub-federal level are inconsistent with WTO provisions, particularly with respect to the obligation under GATT (General Agreement on Tariff and Trade) 1994, Agreement on Subsidies and Countervailing Measures and/or TRIMS (Trade-Related Investment Measures) Agreement. The US had earlier won a case against India at the WTO in February after questioning the rules on the origin of solar cells and solar modules used ...
Solar Power Case: US wins WTO dispute against India
The panel upheld US clam and said that the Indias domestic requirements action is inconsistent with various articles of TRIMS and GATT The Dollar Business Bureau World Trade Organisations (WTO) dispute panel on Wednesday concluded in favour of US and said under Indias National Solar Mission, New Delhi is violating international trade rules through domestic content restriction measures (DCR) and discriminating against imported solar cells and modules World Trade Organisations (WTO) dispute panel on Wednesday concluded in favour of US and said under Indias National Solar Mission, New Delhi is violating international trade rules through domestic content restriction measures (DCR) and discriminating against imported solar cells and modules. The panel upheld the US clam and said that the Indias domestic requirements action are ...
European Union challenges India on marble import restrictions at World Trade Organisation
The Dollar Business Bureau | @TheDollarBiz A marble quarry site in Carrara, Italy The European Union (EU) has challenged India on the issue of import restrictions on marbles and marble products at the World Trade Organisation (WTO), after the European Commission (EC) received complaints about it from the marble stone industry in Europe. According to the European Commission, the licensing system in place in India restricts the supply of imported marble to domestic users in India. The Commission claims that it has received complaints from its industry that India's current licensing regime for marbles contains restrictions which include an annual import quota below the level of potential imports and a minimum import price. “Such measures not only hit the EU marble ...
RTAs cant replace multilateral trading system: WTO chief
The Dollar Business Bureau | @TheDollarBiz Multilateral trading system has strong support across the world, says WTO chief Roberto Azevêdo Roberto Azevêdo, Director-General of the World Trade Organisation (WTO), said that while Regional Trade Agreements (RTAs) are growing and important for global trade, they cannot replace multilateral trading system. According to the WTO, RTAs have grown significantly in the past two decades; the WTO has been notified of 253 RTAs which suggests an average of 24 RTAs per year. However, growing popularity does not mean that everything is fine with RTAs. Around one-fifth of RTAs are now large trade agreements involving more than two countries and WTO says that around 20% of the disputes now involve a RTA partner. Apart ...
Why an India-China FTA makes negative sense!
Steven Philip Warner | @TheDollarBiz While India has largely remained an exporter of traditional raw materials, China has moved up the value chain in exports. An FTA between the two nations will only benefit China (much) more. (L - Inside the biggest CCTV, surveillance camera company, in China, April, 2010 in Shenzhen; R- Textile workers in a small factory in Old Delhi, February, 2008 in Delhi, India) It’s surprising how many stakeholders and policymakers in India are proclaiming an India-China Free Trade Agreement to be a matter of “macroeconomic exigency”. Given China’s dominance in the world of foreign trade in recent years, especially exports, this seems a measured idea from a distance. But closer observation proves that this elixir of ...
Chinas export restrictions on rare earths breach WTO rules: Dispute Settlement Body
The move forces China to implement the ruling within a reasonable period of time and remove export restrictions on rare earth metals The Dollar Business Bureau | @TheDollarBiz The World Trade Organisations (WTO) Dispute Settlement Body (DSB), which oversees disputes among WTO members, has adopted the Appellate Body report that says that Chinas export restrictions on rare earths, tungsten and molybdenum breach WTO rules and are not justified under Article XX of the GATT 1994. China is the worlds largest producer of rare earths, tungsten and molybdenum, which are key raw materials used to make electronic goods, computers and several other high technology goods such as weapons, turbines, mobile phones, lenses and TVs. Chinas share of worlds rare earth production stands at a ...
