On certain occasions where India has put up quantitative restrictions (QR) to protect its domestic industry, it has faced criticism by some member nations of the WTO that India’s moves are inconsistent with its obligations under Articles XI of GATT 1994 to reduce tariffs and other trade barriers. However, it cannot be denied that even if GATT aims for the general elimination of QRs, it simultaneously allows restrictions in certain specific circumstances.
Against this backdrop, Sanjay Notani, Partner and Akshay Jain, Principal Associate, Economic Laws Practice (ELP) have co-authored an article titled ‘A Curious Case of Quantitative Restrictions- India’s Recent Move to Safeguard Domestic Industries‘ published by Taxsutra where they take a deep dive into the reasonableness of QRs and practical challenges in their implementation.
The authors elaborate on the distinctive feature of QR that sets it apart from traditional anti-dumping and countervailing measures which will alone motivate the aggrieved Domestic Industry across sectors to pursue the QR Safeguard instrument in the coming period.
Read the article to know more: https://rb.gy/oeaiv