India may lose trade dispute with US at WTO: Commerce Secretary Rita Teaotia

However, she assured that while direct subsidy to exports cannot be given, the government can legitimately support regulatory compliances required in other countries.

Published: 20th July 2018 04:14 AM  |   Last Updated: 20th July 2018 04:14 AM   |  A+A-

Commerce Secretary Rita Teaotia

Commerce Secretary Rita Teaotia( File Photo | PTI)

By Express News Service

KOLKATA: Commerce Secretary Rita Teaotia on Thursday said there was a possibility that India may lose the trade dispute on export subsidies with the US at WTO, which would mean an end of subsidies for India exporters.

“There is a real possibility that India will lose the trade dispute with the US at WTO over subsidising exports,” Teotia said at an ICC interaction here.The US has dragged India to WTO dispute settlement mechanism over export subsidies in March this year, asserting that these incentives were harming American companies and are creating an uneven playing field.

However, she assured that while direct subsidy to exports cannot be given, the government can legitimately support regulatory compliances required in other countries. “Benefits to services exports will remain untouched, and GST refunds to exporters will continue as well,” she said.The government has set up an expert group to look at WTO-compliant support to exports, and a draft set of schemes will be announced for discussion, she said.



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