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Several prominent schemes of India’s Foreign Trade Policy (“FTP”) are under challenge by the United States at the World Trade Organization (“WTO”). This dispute is of critical importance to Indian businesses since some of the major export subsidy schemes have been challenged.
At stake is loss of annual benefits worth nearly $7.5 billion to the Indian industries. A full-fledged WTO dispute has been initiated in Geneva. Going by past trends, the ruling by the WTO panel is likely to be released in the first half of 2019.
These schemes under challenge by the United States are:
Numbers indicate how important these schemes are in supporting Indian exports, in particular, on steel products, pharmaceuticals, chemicals, information technology products, textiles, and the apparel sector. For instance, exports from Special Economic Zones account for over 30% of India’s total export volume.
The United States alleges that these schemes grant subsidies in a manner which runs afoul WTO law.
As Indian businesses ramp up efforts to increase their presence in foreign markets, this dispute bring with it a lot of potential anxiety to domestic industries since existing government support mechanisms for exports may be revised or removed in entirety. The Government of India had reportedly set up internal committees to review the FTP and propose WTO-consistent subsidy frameworks.
In our special webinar, Mr. Sanjay Notani, Mr. Jignesh Ghelani, Mr. Parthsarathi Jha and Mr. Rishab Raturi will discuss issues relating to:
Our WTO law and policy experts will also answer any specific queries that you may have.
We look forward to your participation for this special webinar on 20 September, 2018 at 4:00 pm (IST).
We look forward to your valued participation.
Please register by clicking on the link – https://elplaw.webex.com/elplaw/onstage/g.php?MTID=eff96d76b7b3992ff4c09f0a1ac6606b0
Event password: Elp@123
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He is a Partner at ELP and Co-heads the International Trade & Customs practice. He is a member of the American Bar Association (“ABA”), the Inter-Pacific Bar Association (“IPBA”) and the Customs and International Trade Bar Association (“CITBA”). Sanjay represents domestic manufacturers, foreign ex ...
He is a Partner at ELP focusing on indirect taxes and the newly introduced Goods & Services Tax (“GST”). He is a fellow member of the Institute of Chartered Accountants of India (“ICAI”). His areas of expertise include customs, excise, service tax, central sales tax (“CST”), state Value Added Tax (“VAT”) laws, Forei ...
Parth is an Associate Partner in the Competition Law & Policy and International Trade & Customs practices of ELP. Parth has worked on matters primarily focused on trade-remedy investigation (anti-dumping and safeguards), mergers and acquisitions, private equity and general corporate matters. He has also advised clients on ...
Mr. Rishab Raturi
Rishab is a qualified lawyer from India with an undergraduate degree in law and social sciences with a specialisation in international law and global governance from the Rajiv Gandhi National University of Law, India. At law school, he participated in and won several national and international moot court, client counselling and negotiation competitions.