Isolated at WTO

India's export promotion schemes need a rethink

Several nations, including European ones, Japan, Korea, Egypt and Sri Lanka have made common cause with the United States at the World Trade Organization (WTO) over Indian export promotion schemes. In March this year, the US argued that India could no longer create targeted tax and subsidy schemes for its exporters as it violated WTO protocols. While many Trump administration actions on trade have failed to garner worldwide support, it appears that this one has — mainly because India has failed to make its argument with any persuasiveness. The schemes are, under WTO rules, reserved for the poorest countries —