Geneva: India is set to lose a major trade dispute with the US at the World Trade Organization (WTO). If the appellate body upholds the panel’s ruling, India will be required to discontinue the existing export promotion schemes. The programmes that could be affected are export-oriented units scheme, electronics hardware technology parks scheme, bio-technology parks scheme, merchandise exports from India scheme, export promotion capital goods scheme, special economic zones and duty-free imports for exporters. India has maintained that in 2015 it had announced it would discontinue export subsidies soon. Subsequently, the government made another announcement in 2017 that it would end the export subsidies.

Source: Mint September 29, 2019 17:37 UTC