India today informed the World Trade Organization’s (WTO’s) committee on safeguards that it had terminated its safeguard investigations into import of eight products. The decision was welcomed by the European Union (EU) and the US, trade diplomats said.
Last year, India had initiated safeguard investigations on eight products — unwrought aluminium, aluminium waste and aluminium scraps, Hot Rolled (HR) coils, HR sheets and strips, coated paper and paper board, uncoated paper and copy paper, oxo-alcohols, particle board, linear alkyl benzene, and acrylic fibre.
The EU and US had raised concern at the WTO over the investigations. They had also pressed for an immediate elimination of the questionable investigations, Business Standard was told.