WTO panel rules India export subsidies illegal, upholds US case
Calls on India to withdraw export-contingent subsidies within periods varying from 90 to 180 days
PHOTO: Reuters
GENEVA:
A World Trade Organisation (WTO) panel ruled on Thursday that Indian export subsidies are prohibited and should be removed, upholding a complaint brought by the United States.
The panel largely agreed with US claims challenging export subsidies granted in the form of exemptions from customs duties and a national tax, while rejecting some US arguments. It called on India to withdraw the export-contingent subsidies within periods varying from 90 to 180 days.
The US Trade Representative’s Office, in a statement, said that the panel had agreed that India provides prohibited subsidies to Indian exporters worth more than $7 billion annually, including producers of steel products, pharmaceuticals, chemicals, IT products and textiles.
A World Trade Organisation (WTO) panel ruled on Thursday that Indian export subsidies are prohibited and should be removed, upholding a complaint brought by the United States.
The panel largely agreed with US claims challenging export subsidies granted in the form of exemptions from customs duties and a national tax, while rejecting some US arguments. It called on India to withdraw the export-contingent subsidies within periods varying from 90 to 180 days.
The US Trade Representative’s Office, in a statement, said that the panel had agreed that India provides prohibited subsidies to Indian exporters worth more than $7 billion annually, including producers of steel products, pharmaceuticals, chemicals, IT products and textiles.