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Friday, November 1, 2019

World Trade Organization (WTO) declares Indian export subsidies illegal Thursday Oct 31,2019

Indian export subsidies violate free trade rules and should be stopped, the World Trade Organization (WTO) said in a ruling that was published on Thursday Oct 31,2019



The case was brought before the Geneva-based organisation by USA, which argues that the subsidy schemes for steel, medicine, chemicals, information technology and textiles amount to seven billion dollars a year.

The WTO found that India has been granting prohibited customs and tax breaks, and that it had issued notes to exporters that they can use to pay off certain debts to the government.

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