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India Urged to Raise Trade Disputes to Counter Protectionism, Says Think Tank

Published: December 22, 2023
Author: TANVI_MUNJAL

The Global Trade Research Initiative (GTRI) has called on India to actively raise trade disputes against protectionist measures adopted by developed regions such as the US and EU. GTRI stated that most nations, including the US and EU, have implemented trade measures that are incompatible with World Trade Organisation (WTO) regulations. In order to effectively challenge these measures, the think tank emphasized the need for a professional setup similar to the US Trade Representative, as well as a robust panel of experts, which the current setup lacks.

GTRI highlighted that India’s previous success in dropping six WTO disputes with the US was due to its proactive approach in filing cases against the country. As trade protection measures continue to rise in the US and EU, GTRI predicts a potential increase in the number of such disputes in the coming years.

Ajay Srivastava, Co-Founder of GTRI, warned of the impact of the EU’s policies, such as the carbon tax, which could make exports more challenging with additional tariffs ranging between 20-35 per cent. He emphasized the need for a balanced approach that aligns domestic economic interests with global trade obligations.

India faces ongoing challenges in managing its export promotion schemes within the framework of international trade laws.

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