The U.S. has welcomed the ruling of the World Trade Organization's dispute settlement panel which held that India's domestic export incentive schemes were inconsistent with global trade norms, describing it as a "resounding victory" for America's quest for a "level playing field" for its workers.
India on Thursday lost a case filed by the U.S. at the WTO against domestic export incentives as the dispute settlement panel concluded that these schemes are inconsistent with the international trade norms.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Reacting to the ruling, Trade Representative Robert Lighthizer on Thursday said under the leadership of President Donald Trump, the U.S. is "using every available tool, including the WTO enforcement actions, to ensure American workers are able to compete on a level playing field."
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
"This is a resounding victory for the United States," he said in a statement.
In New Delhi, an official said that India will appeal against the ruling of WTO's dispute settlement panel.
President Trump has previously said that India's "very high" tariffs on U.S. goods are "unacceptable" and must be withdrawn.
Trump, championing his 'America First' policy has been a vocal critic of India for levying "tremendously high" duties on U.S. products, has described the country as a "tariff king".
The WTO ruling has stated that India should not provide subsidies based on export performance.
The dispute panel ruled that India's export incentive schemes such as Merchandise Export from India Scheme, Export Oriented Units, Electronics Hardware Technology Parks Scheme; special economic zone; and Export Promotion Capital Goods Scheme were inconsistent with global trade norms.
The panel has stated that India will not get an eight-year period like other developing countries for phasing out these schemes.
With this ruling, India has to re-work these schemes and make them compatible with global trade rules, being framed by 164-member Geneva-based WTO.
According to trade experts, the ruling would impact India's exports and the government will have to immediately work on alternatives.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
