India records 17 pc jump to become 4th largest exporter of digital services: WTO report
India’s growth rate was much higher than the 4 per cent increase posted by China and Germany.
India’s growth rate was much higher than the 4 per cent increase posted by China and Germany.
The World Trade Organization (WTO) 13th Ministerial Conference at Abu Dhabi has been extended until Friday, March 1, to allow further discussions and facilitate outcomes on main issues.
It also discussed how this emerging segment of the global economy holds the promise for economic development and prosperity for the developing countries, including the least developed countries (LDCs).
Both the countries said that as there is no consensus on the agreement, and that it could not be included in the outcome of MC13.
It also called for effective formalisation of the ongoing informal dispute settlement reform discussions among some Members at the WTO, the Ministry of Commerce & Industry said in a statement.
The government had on June 21, 2018, decided to impose these duties in retaliation to the US decision of significantly hiking customs duties on certain steel and aluminium products.
At the summit-level negotiations of WTO, India upped the ante to protect its food security, even as the US refused to agree to the demands of developing nations on the issue. Initially, India was bargaining hard for improving an already available mechanism that safeguards government purchase of staple foodgrain from low-income and resource poor farmers at subsidised prices for stockpiling, and then distributing them to the country's economically weak.
The issue pertains to a case filed by Japan in December 2017 against India's decision to impose safeguard duty on some iron and steel products.
The row kicked off on September 27 when the Indian government announced a $1 billion sugar subsidy scheme in addition to a previous round of domestic industry assistance.
Donald Trump, who has been pushing protectionist policies, says that the United States is treated unfairly by the body.
