
US wins WTO dispute against India’s solar rules
The United States won a ruling against India at the World Trade Organization on Wednesday after challenging the rules on the origin of solar cells and solar modules used in India’s national solar power programme.
In a statement, the US Trade Representative’s office called the ruling a significant victory that would hasten the spread of solar energy across the world and support clean-energy jobs in the United States.
The United States complained to the WTO in 2013 about the Indian solar programme, which sought to ease chronic energy shortages in Asia’s third-largest economy without creating pollution.
But a requirement that certain cells and modules be made in India fell afoul of WTO rules on discriminating against imports. The United States said its solar exports to India had fallen by 90% from 2011, when India imposed the rules.
The WTO ruling, which can be appealed within 60 days, was repeatedly delayed as the two sides tried to negotiate a settlement. An Indian official had said a compromise might let India subsidise state projects such as defence or railway projects.
Indian officials were not immediately available to comment on the WTO ruling.
But India is likely to appeal against the ruling that has stated that the country’s power purchase agreements with solar firms were “inconsistent” with international norms, reports PTI.
The rulings of the WTO’s dispute settlement panel can be challenged in the WTO’s Appellate body.
The decision to move to the Appellate Body would be taken after consulting the ministry of new and renewable energy, an official source said.
India has about three months time to appeal in the Appellate Body.

Sensex rebounds over 270 points in early trade; Nifty reclaims 15,000-level

Gold price recovers from 9-month low: Here's why

How govt plans to push health spending to target of GDP’s 2%
- Despite decades of strong economic growth, the country’s spending on health care is barely 1% of GDP, way below Brics peer nations, resulting in serious supply-side deficits of facilities and professionals.

Birla Sun Life plans to raise ₹5,000 crore via share sale
- Aditya Birla Sun Life Asset Management has started talks with potential merchant bankers for the IPO, which is likely to be launched in the June quarter, said the people cited above.

Ola aspires to pull off a Tesla, but affordably
- The Bengaluru-based firm plans to start production as early as in June. That’s audacious, given that the land—260 acres for the plant and 240 acres for two supplier parks—is still in excavation mode.

Zostel claims victory in legal row with OYO
- The term sheet executed between the two parties in 2015, promised ZO Rooms’ shareholders 7% of Oyo.

Suitors make a beeline for 26% stake in BEML
- Bharat Forge Ltd and Megha Engineering and Infrastructure Ltd may also submit expressions of interest for the government’s stake in BEML, the people said on condition of anonymity.

Biz confidence at India Inc soars to 10-year high
- The survey captures the mood of the industry for the two quarters ending June 30, 2021.

Junk your old car, get 5% rebate from automakers on new purchase: Gadkari

Gold prices down over 20% from highs. Should you invest?

RBI: India Inc's overseas direct investment falls by 31% to USD 1.85 billion

OPEC+ surprise sees oil soar past Gulf’s budget-balancing Levels

Elon Musk’s historic wealth gains unravel with $27 billion loss

How to check PF balance without Universal Account Number
- For checking EPF balance without UAN number, users will need to log into their account through the EPF homepage at epfindia.gov.in.
