Don’t miss the latest developments in business and finance.
Home / Economy / News / India topped list of trade-related concerns at WTO in 2021 with 35% share
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
Over a third of the new trade-related concerns in 2021 were raised against various import-related restrictions imposed by India, according to the annual report of the World Trade Organisation (WTO).
“A record-breaking 20 new trade concerns were raised by WTO members in the Council for Trade in Goods in 2021, up from 13 in 2020,” the report said. Out of the 20 concerns raised by WTO member nations, seven of them were regarding India’s–import policy on tyres, import restrictions on air conditioners, copier paper quality order, 2020, caustic soda quality control order, standards and import restrictions in automobile sector and requirement of GM and GM-free certificate for imported food consignments.
These issues were raised by countries such as China, Japan, European Union, Indonesia, and the United States (US).
The annual report on the WTO’s work in 2021 and early 2022 was released a little more than a month after the completion of the crucial 12th ministerial conference in Geneva. “MC12 is proof that the WTO can deliver results. Members have shown they are capable of reaching multilateral compromises and finding solutions to contemporary challenges, provided they have the political will to do so,” the report quoted WTO DG Ngozi, Okonjo-Iweala as saying.
The report also noted that India and the US were the leading initiators of anti-dumping probes, accounting for more than 30 per cent of new investigations. However, that number had halved from 60 per cent in 2020.
In the first six months of 2021, India initiated 25 new anti-dumping investigations, while the US initiated 11, down from 57 and 58, respectively, during the same period of the previous year. As far as products are concerned, anti-dumping investigations involving steel products were the subject of extensive debate in 2021.
Countries can impose anti-dumping measures or duties on imports of a product where the exporting company sends the product at a price lower than its normal value and lower than the price it charges in its home market. The dumped imports cause or threaten to cause injury to the domestic industry in the importing
country.
EU and countries such as Australia, Canada also questioned India’s import requirements on certain pulses at the WTO. Indonesia questioned India’s import licensing regime on tyres and Sri Lanka’s import ban on palm oil.
To read the full story, Subscribe Now at just Rs 249 a month