We have been able to protect India’s interests at WTO: Piyush Goyal

Since the process has not yet been completed, we believe that it is in the best interest that we continue this ecommerce moratorium and ensure that if at all it is found to be necessary, there will be discussions at Geneva to see if there are any areas particularly which need to be covered under […]

Nepal’s Ambassador to India, Shankar Sharma, praised the Reserve Bank of India’s new guidelines enabling multiple financial services between India and Nepal. Nepali citizens can now send Rs 2 lakh per transaction to Nepal, while walk-in customers can remit Rs 50,000 per transaction. The upcoming Unified Payment Interface-Nepal Clearing House Ltd will further eliminate the […]

Despite extended talks, WTO negotiators in Abu Dhabi failed to reach agreements on major reforms. They did agree to extend a moratorium on tariffs on digital goods until the next ministerial conference, but discussions on e-commerce were stalled by countries like India and South Africa. Disagreements also persisted on dispute settlement, with the WTO’s top […]

The 13th Ministerial Conference of the World Trade Organization (WTO) in Abu Dhabi concluded without a decision on a permanent solution for public stockholding of food. The conference also failed to reach a consensus on fishery subsidies. However, the WTO extended the moratorium on e-commerce transmissions by two years. Despite efforts to resolve differences on […]

The meeting of the highest decision-making body of the WTO, which was supposed to conclude on Thursday, entered the fifth day on Friday with key members, including India, the US and EU, holding talks to iron out differences on issues such as agriculture, fisheries subsidies, WTO reforms and duty moratorium on e-commerce trade.

A revised text on agriculture circulated in the afternoon offered two options either adopting a permanent solution at the MC13 or members intensify negotiations at the committee of agriculture to arrive at a permanent solution for food security purposes available to all developing country members.

India calls for re-examination of customs duties moratorium on e-commerce at WTO. Developing countries losing $10 billion annually. India opposes extension, facing $500 million loss each year. Policy options needed for digital industrialisation. Discussions at 13th Ministerial Conference.

“Members are indicating that additional time will be needed to iron out some of the outstanding issues,” said an official, adding that, for this reason, the informal meeting of heads of delegation and the formal closing session were postponed to Friday.

At the 13th Ministerial Conference of the World Trade Organization, no consensus was reached on fisheries subsidies. India seeks special treatment and complete exemption for its small scale and artisanal fishermen. The negotiations are deadlocked and a meaningful agreement is needed.

India’s basmati rice exports are expected to decrease in 2024 due to increased competition from Pakistan, which is offering the grain at more competitive prices. In 2023, India’s basmati rice exports reached 4.9 million metric tons, just shy of the record high in 2020, leading to record revenue of $5.4 billion. However, Pakistan’s increased production […]