India has expressed apprehensions about the European Union’s (EU’s) proposal on Friday to create new e-commerce rules on grounds that the high standards being proposed could decimate both the goods and services tariff rules under the World Trade Organisation (WTO), impacting its domestic industry and job creation. Addressing the informal Trade Negotiations Committee of the Heads of Delegates on Friday, India’s permanent representative at the WTO J.S. Deepak said most developing countries including India are not ready for binding rules in e-commerce. While the GATT rules regulate goods trade among WTO members, rules of GATS govern the trade in services among member countries. India has opposed any such move to set e-commerce rules outside the ambit of WTO and has insisted that the current multilateral programme on e-commerce under WTO should be taken to its logical conclusion.

Source: Mint May 05, 2019 18:11 UTC