Impasse over dispute settlement system likely to end: WTO deputy director-general Angela Ellard

“The resolution of the US-India disputes is a very welcome development. I think the dispute settlement mechanism here in the WTO created a path for that resolution,” Angela Ellard said, adding that these are all examples of how having a dispute settlement system helps members resolve their conflicts.

“Many things are moving very fast. Like rules of origin and bilateral investment treaty, there is a good progress. Negotiations are happening… Towards the end of the deal, it is the difficult issues which are to be closed and therefore it requires more time and more deliberations,” Commerce Secretary Sunil Barthwal told reporters.

The government also allowed exports of non-basmati rice to Bhutan (79,000 tonnes), Mauritius (14,000 tonnes) and Singapore (50,000 tonnes) through the National Cooperative Exports Ltd (NCEL). On September 9 last year, the government banned the export of broken rice to check rising retail prices and boost domestic supply.

India, the world’s third-largest crude importer after China and the United States, has been buying Russian oil that was available at a discount after some in the West shunned it as a means of punishing Moscow for the invasion of Ukraine.

Indian industry was looking at duty-free access for products like textiles and leather besides easy visa norms for the movement of professionals. Canada has interests in areas like dairy and agricultural products. The bilateral trade between the countries has increased to USD 8.16 billion in 2022-23 from USD 7 billion in 2021-22.

The retaliatory duties removed are 10 per cent on chickpeas, 20 per cent on lentils, Rs 7-20 per kg on almonds,; and 20 per cent each on walnuts, apple, boric acid, and diagnostic reagents. The BCD on these goods are 60 per cent on chickpeas, 30 per cent on lentils, Rs 35-100 per kg on […]

India’s vegetable oil imports rose by 33% in August compared to the previous year. Lower duties and a revival in demand after a drop in domestic rates were cited as reasons for the increase. India imported a total of 18.66 lakh tonne of vegetable oil in August 2022.

India’s tax on parboiled rice exports has led to a halt in trade activity. However, it is expected to restart after the duty becomes nil post-Oct. 15. The prices for 5% broken parboiled rice in India remained near a record high, while Vietnamese and Thai export rates eased slightly. The prices for 5% broken rice […]

The Nepalese government is planning to import 20,000 metric tonnes of sugar from India to meet the domestic demand during the upcoming festivals. The Ministry of Industry, Commerce and Supplies had requested customs waiver for importing 60,000 metric tonnes of sugar, but the Finance Ministry has only granted permission for 20,000 metric tonnes for now. […]

The government of India has stated that the removal of additional retaliatory duties on US apples, walnuts, and almonds will not negatively impact domestic producers. Commerce and Industry Minister Piyush Goyal said that opposition parties, particularly the Congress, are politicizing the issue without a complete understanding.