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India's safeguard duty move on steel goods inconsistent with certain global trade norms: WTO panel

Press Trust of India  |  New Delhi 

The WTO's dispute panel has said India's move to impose safeguard duty on some iron and products was inconsistent with certain global trade norms.

The ruling comes in the backdrop of dragging to the (WTO) against certain measures taken by on imports of iron and products. The case was filed by in December 2017.

"...having found that acted inconsistently with certain provisions of the GATT 1994 and the Agreement in Safeguards, we recommend that, to the extent that the measure continues to have any effects, bring it into conformity with its obligations under those agreements," the panel said in its ruling.

The duty imposed by India already ended in March this year.

As India and failed to resolve the issue in the bilateral consultation process, the WTO had set up the dispute resolution panel earlier this year.

Japan, which is the second largest producer in the world, had alleged that duties imposed on by India violated WTO trade norms.

In September 2015, India imposed provisional safeguard duty of 20 per cent on of certain categories of steel with a view to protect domestic producers. Later, it was reduced and extended till March this year.

The dispute assumes significance as India and Japan implemented a comprehensive free trade agreement in 2011. It gave easy access to Japan in the Indian

The bilateral trade between the countries stood at USD 15.7 billion in 2017-18. Trade is highly in favour of Japan as the trade deficit stood at about USD 11 billion in that fiscal.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 07 2018. 16:15 IST
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