India Might Stop Export Promotion Schemes If Found Prohibited by WTO
India's Export Promotion Programmes have now come under the global scanner and might face a complete suspension if found prohibited by World Trade Organisation (WTO)
The WTO on Monday based on US’ request referred Washington’s complaint on India’s export promotion schemes to the Dispute Settlement Body by establishing a panel to look expeditiously in the matter.
US had filed a complaint with WTO on account of failing to find a mutually agreed solution within stipulated 30 days to India’s export promotion programmes.
An official concerned with the matter told ET,
A panel has been established in the DSB today under accelerated timelines of the agreement on subsidies and countervailing measures (SCM) on our export-related measures.
With the SCM report filed, the panel will have to ...