Page 5 - World Trade Organization

Expanding India's global stamp: FTAs are the way to go if gaps are plugged

The complexities of rule of origins may end up distorting trade instead of fostering it

EU, US set up task force to resolve feud over electric vehicle batteries

The U.S. and the European Union have set up a task force tasked with resolving a dispute over electric vehicle batteries that the EU says would discriminate against manufacturers in the 27-nation bloc and break World Trade Organization rules. Under the Inflation Reduction Act (IRA) passed by U.S. Congress in August, electric car buyers are eligible for a tax credit of up to $7,500 as long as the vehicle runs on a battery built in North America with minerals mined or recycled on the continent. The EU believes that the measure is a potential trans-Atlantic trade barrier discriminating against foreign producers. The EU announced on Wednesday that Bjoern Seibert, the head of cabinet to European Commission President Ursula von der Leyen met in Berlin with U.S. Deputy National Security Advisor Mike Pyle to launch the task force. A first meeting will take place next week. The Task Force will address specific concerns raised by the EU related to the IRA," the Commission said. Both sides ..

The economy is losing momentum

India will need to adjust to slowing global trade

WTO slashes global 2023 trade growth forecast to 1% as recession looms

The fresh WTO forecasts estimate world GDP at market exchange rates will grow by 2.8% in 2022 and 2.3% in 2023 - the latter is 1 percentage point lower than what was previously projected

World is 'edging into' a recession, warns WTO chief Ngozi Okonjo-Iweala

"The indicators are not looking good," WTO Director-General Ngozi Okonjo-Iweala said during an interview in Geneva Tuesday. "I think a global recession - that is what I think we are edging into."

India defends decision to ban rice, wheat exports at WTO meeting

India has defended its decision to ban export of wheat and rice at a WTO meeting even as some member countries have flagged concerns over the country's stand, an official said. At a meeting last week in Geneva, Senegal, the US and the European Union raised questions over this decision, stating it could have adverse implications on global markets. In May, India restricted export of wheat to enhance domestic availability. This month, it also banned export of broken rice and imposed a 20 per cent export duty on non-Basmati rice except for parboiled rice to boost domestic supplies amid a fall in area under paddy crop in the current kharif season. Defending its decision, India clarified that the ban on export of broken rice, which is used in poultry feed, follows a rise in the grain's exports in recent months which put pressure on the domestic market. In the case of wheat, food security concerns necessitated export curbs. India has also stated that the measures are temporary in nature

Top Headlines: Stricter framework for FPI owners, India Inc's capex, & more

The Securities and Exchange Board of India (Sebi) is mooting a stricter framework for identifying "beneficial owners (BOs)" of foreign portfolio investment (FPI) in the country

Staying out of IPEF's trade pillar: There are two sides to this debate

There is no meeting ground between politics which is looking at the elections this year, and economics, which is looking at the next decade

Post-Covid regional trade to be on PM Modi's agenda at SCO Summit

May hold first bilateral meeting with Chinese President Xi since 2019

EU wants India to prohibit 'discriminatory buy national practices': Report

India's Make in India and Atmanirbhar initiatives aim to favour domestic manufacturing and discourage imports, the European Union said

India topped list of trade-related concerns at WTO in 2021 with 35% share

Issues were raised about India's-policy on tyres, import curbs on ACs, quality norms for copier paper and caustic soda, GM-free certification for imported food items, among other things

Let India export foodgrains from public stock: FM Sitharaman at G20

Says India could help in reducing hunger or food insecurity

Enduring global food crisis

Blame game would serve no purpose

Govt pitches for 25-yr exemption from subsidy cuts on distant water fishing

Fishing beyond 200 nautical miles (370 km) from the seashores of a country is called distant water or high sea fishing

Until US, China enact reforms, WTO will continue to fade into irrelevance

China has benefited far more from the WTO than any other trading nation; it should step up and take responsibility for keeping the organization afloat by redefining its role

India supported TRIPS waiver for benefit of developing nations: Goyal

According to the minister, India has a number of Covid vaccines and can help other developing countries to make vaccines

India fully protected interests of farmers, fishermen at WTO meet: Goyal

Goyal said that the decisions taken in the conference will further strengthen the role of the multi-lateral body in promoting global trade

India's trade contradictions

WTO experience highlights India's less-than-coherent approach towards trade

WTO still lives

Outcomes for India were mixed

India softens stance to hammer out a "no harm" trade deal at WTO meet

Piyush Goyal said perhaps this was the first ministerial where India set the agenda. "We were on the front foot. We were telling other countries what needs to be done"