India-Japan trade dispute: Policymakers concerned over WTO verdict

India has promised to fight the charge that it was misusing export subsidies and is set to reply within the next 60 days

The recent verdict delivered against India by the World Trade Organization (WTO) on a dispute on iron and steel imports from Japan has made policymakers concerned about major upcoming rulings affecting New Delhi’s trade policy and export sector.

On November 6, a panel formed by the dispute settlement body of the WTO — the first stage of a winding arbitration process — said certain safeguard duties imposed by India on iron and steel imports from Japan were not in keeping with trade rules. It said India had failed in proving that domestic injury had suffered serious economic losses owing to