Exports contract 4.85% to $32.1 billion; imports increase by 27% to $69.95 bn
India has pitched at the WTO for stricter regulations on subsidies granted by countries that are engaged in high seas fishing activities, an official said. Highlighting the stark disparity, an Indian document submitted at the World Trade Organization (WTO) has noted that it provides a modest USD 35 per fisher annually, compared to subsidies as high as USD 76,000 per fisher per year in some European nations. India also suggested that historical subsidisers should seek permission of the Committee on Fisheries Subsidies for grant of subsidies in future. The country has made these remarks in the meetings of the Negotiating Group on Rules (Fisheries subsidies), which are going on in Geneva. "India has pitched for strong disciplines for historical fisheries subsidisers which are engaged in distant water fishing (200 nautical miles from sea shore) and has asked for a moratorium on subsidies at the present level for 25 years," the official said. On these demands, India was supported by ..
India also flagged the difference in the amount of subsidy provided by developing nations such as India, as compared to developed nations
On her reappointment, Ngozi Okonjo-Iweala thanked the members and highlighted the challenges she plans to address
India needs to develop a better understanding of the evolving dynamics of global trade institutions and trade rules among its trade negotiators
The first half of 2024 saw 2.3 per cent year-on-year increase. The rebound came against the backdrop of a slump in 2023 - of 1.1 per cent - driven by high inflation and rising interest rates
The move comes after bilateral engagements with the trade bloc had failed earlier this year
Nations including the US, UK, Japan, and Canada have sought answers from India about its continued export bans and other agricultural policies at the World Trade Organization (WTO)
China undergoes first WTO review since 2021
India should prepare for changing dynamics
The scheme came into effect over three years ago to refund the embedded non-creditable central, state and local levies paid on inputs to exporters to boost India's exports
The WTO dispute settlement mechanism was made dysfunctional by the refusal of the US to appoint judges
India can do better in electronics exports
Despite its benefits to global prosperity, the WTO may be on its last legs, unless something changes dramatically
The resolution of all the disputes is not only a sign of strengthening economic ties between both nations, but also showcases India's new approach to trade issues
The resolution of all the disputes is not only a sign of strengthening economic ties between both nations, but also showcases India's new approach to trade issues
The EFTA's market access offer covers 100 per cent of non-agricultural products and tariff concessions on processed agricultural products
Issues like subsidies, public stockholding for food security persist
The ongoing WTO 13th ministerial conference (MC13) in Abu Dhabi, which was supposed to end on February 29, has been extended by a day due to the logjam over key issues
Along with India, South Africa also joined the WTO to block the Investment Facilitation Development Agreemen