GENEVA: A World Trade Organization (WTO) panel has ruled that Indian exportsubsidies are prohibited and should be removed, upholding a complaintbrought by the United States.
The panel largely agreed with US claims challenging export subsidiesgranted in the form of exemptions from customs duties and a national tax,while rejecting some US arguments. It called on India to withdraw theexport-contingent subsidies within periods varying from 90 to 180 days.
The US Trade Representative’s Office, in a statement, said that the panelhad agreed that India provides prohibited subsidies to Indian exportersworth more than $7 billion annually, including to producers of steelproducts, pharmaceuticals, chemicals, IT products and textiles.
