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India gears for WTO tussles

business Updated: Feb 16, 2009 11:00 IST
Agencies
India gears for WTO tussles

As economies around the world are resorting to trade barriers, India has begun the groundwork for challenging the curbs in developed countries at the WTO.

The trade policy division in the commerce ministry is collecting data as to what kind of non-tariff barriers are being created in the major global markets like the US and EU, so that they could be legitimately contested at the global trade regulator WTO.

The pace of groundwork has gathered momentum in the face of increasing protectionist measures being resorted to in the developed world, facing the worst recession in the last 78 years.

Meanwhile, the G7 finance ministers in Rome pledged to avoid resorting to protectionism as they try to stimulate their own economies in the face of the economic crisis.