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India’s foreign exchange reserves could have paid for just two weeks of imports when the balance of payment crisis erupted in 1991.(HT file photo)

Trade dilemma in a populist world

By Roshan Kishore, New Delhi
PUBLISHED ON JUL 07, 2021 01:07 AM IST
India’s foreign exchange reserves were valued at $598 billion in May 2021, more than 15 times the value of India’s imports that month.
Some European Union member states oppose the idea, and the EU on Friday offered an alternative proposal that relies on existing World Trade Organization rules. In picture - Used vials of the Pfizer-BioNTech Covid-19 vaccine.(Bloomberg | Representational Image)
Some European Union member states oppose the idea, and the EU on Friday offered an alternative proposal that relies on existing World Trade Organization rules. In picture - Used vials of the Pfizer-BioNTech Covid-19 vaccine.(Bloomberg | Representational Image)

WTO panel considers easing patent protections on Covid-19 vaccines

PTI | , Geneva
UPDATED ON JUN 08, 2021 06:08 PM IST
On the table for a two-day meeting of a WTO panel opening Tuesday is a revised proposal presented by India and South Africa for a temporary IP waiver on coronavirus vaccines.
All over the world, the supply of coronavirus vaccines is falling far short of demand, and the limited amount available is going to rich countries. (AP Photo/Al-emrun Garjon)(AP)
All over the world, the supply of coronavirus vaccines is falling far short of demand, and the limited amount available is going to rich countries. (AP Photo/Al-emrun Garjon)(AP)

Countries call on drug companies to share vaccine blueprint, technical know-how

AP | , Paris
PUBLISHED ON MAR 01, 2021 01:50 PM IST
  • Across Africa and Southeast Asia, governments and aid groups, as well as the WHO, are calling on pharmaceutical companies to share their patent information more broadly to meet a yawning global shortfall in a pandemic
Developed and rich nations are opposing the proposal.(AP | Representational image)
Developed and rich nations are opposing the proposal.(AP | Representational image)

Global growth to be hit if IP norms not waived to deal with Covid-19: India

PTI | , New Delhi
PUBLISHED ON FEB 27, 2021 10:44 PM IST
In October 2020, India and South Africa submitted a proposal suggesting a waiver for all WTO (World Trade Organization) members on the implementation, application and enforcement of certain provisions of the TRIPS Agreement.
During her campaign, Okonjo-Iweala acknowledged the necessity of rebuilding trust between the US and China while trying to find areas of common interest.(REUTERS)
During her campaign, Okonjo-Iweala acknowledged the necessity of rebuilding trust between the US and China while trying to find areas of common interest.(REUTERS)

WTO formally appoints Nigeria's Okonjo-Iweala as its first female leader

Bloomberg |
PUBLISHED ON FEB 15, 2021 08:21 PM IST
During a virtual meeting on Monday, the WTO’s 164 members unanimously selected the development economist to serve a four-year term as director-general.
 Nigeria's former Foreign and finance minister Ngozi Okonjo-Iweala.(AFP)
Nigeria's former Foreign and finance minister Ngozi Okonjo-Iweala.(AFP)

Nigeria's Ngozi Okonjo-Iweala first woman, African national to head WTO

Reuters | , New Delhi
UPDATED ON FEB 07, 2021 08:45 AM IST
The government of President Joe Biden expressed its strong support for Okonjo-Iweala in a statement late Friday, lauding her experience at the World Bank and leading Nigeria's finance ministry, and pledging to work with her on needed reforms.
Farmers at the lalkar rally at Barnala’s grain market on Monday.
Farmers at the lalkar rally at Barnala’s grain market on Monday.

Farmers remind govt of promise to double their income, hold lalkar rallies in 5 Punjab districts

Hindustan Times, Barnala | By HT Correspondent, Barnala
UPDATED ON SEP 14, 2020 05:05 PM IST
Symbolic now, but farmer cadre asked to prepare for September 16 action, when rail or other places could be blocked, said Jagmohan Singh, general secretary of Bhartiya Kisan Union (Dakaunda)
India banned the apps on Monday, its strongest move against China in the online space since fighting erupted on the two countries’ border this month.(File photo for representation)
India banned the apps on Monday, its strongest move against China in the online space since fighting erupted on the two countries’ border this month.(File photo for representation)

China says India’s ban on 59 Chinese apps may violate World Trade Organisation rules

Reuters | By Reuters | Posted by Niyati Singh
UPDATED ON JUN 30, 2020 10:21 PM IST
China said on Tuesday that India’s move to ban 59 Chinese-origin mobile apps could be a breach of World Trade Organisation (WTO) rules, and urged New Delhi to create an open and fair business environment.
The US and Canada have said they have jointly approached the World Trade Organisation (WTO) against India for allegedly “under-reporting” market price support for five varieties of pulses.(Reuters)
The US and Canada have said they have jointly approached the World Trade Organisation (WTO) against India for allegedly “under-reporting” market price support for five varieties of pulses.(Reuters)

US, Canada move WTO against India on ‘under-reporting’ of MSP for five pulses

Washington | By Press Trust of India
PUBLISHED ON FEB 16, 2019 07:41 PM IST
The US expects a robust discussion on how India implements and notifies its policies at the next COA meeting, which is scheduled for February 26-27, the statement said.
To paraphrase Mark Twain, reports of WTO’s impending demise may be both premature and exaggerated.(AFP)
To paraphrase Mark Twain, reports of WTO’s impending demise may be both premature and exaggerated.(AFP)

The US-China trade war will impact negotiation dynamics of the WTO

By Mohan Kumar
UPDATED ON DEC 10, 2018 07:17 AM IST
The US also has a major grievance with the WTO about its alleged inability to deal adequately with China’s brand of “hybrid state capitalism” and the latter’s potential to distort international trade. The WTO was conceived on the basis of free trade and comparative advantage and it is true that it was not designed to deal with economies such as China.
The efforts to bring about major reform of the World Trade Organisation (WTO) are gathering steam and India will have to take well-considered positions on key proposals that are likely to be put on the agenda of the next WTO ministerial meeting scheduled for June 2020 in Kazakhastan(AFP)
The efforts to bring about major reform of the World Trade Organisation (WTO) are gathering steam and India will have to take well-considered positions on key proposals that are likely to be put on the agenda of the next WTO ministerial meeting scheduled for June 2020 in Kazakhastan(AFP)

India must take a well considered position to ensure reform in the WTO

By Shyam Saran
UPDATED ON NOV 14, 2018 11:18 AM IST
The proposed reforms lay considerable stress on transparency, proposing punitive measures if commitments under the WTO to notify subsidies and other trade related actions are violated. This, too, is mainly directed against China. There is no reason for us to oppose this since we are run a transparent and accountable domestic regime, obligated by our Constitution.
Union minister Suresh Prabhu in New Delhi.(Saumya Khandelwal/HT File Photo)
Union minister Suresh Prabhu in New Delhi.(Saumya Khandelwal/HT File Photo)

India will work with other nations to reform WTO, says Union minister Suresh Prabhu

New Delhi | By Press Trust of India
PUBLISHED ON SEP 14, 2018 06:56 PM IST
Suresh Prabhu said India looks forward to working with all member countries for an agreeable, forward looking, reform agenda.
An Indian woman separates wheat from the chaff in a field on the outskirts of Guwahati, India(AP Photo)
An Indian woman separates wheat from the chaff in a field on the outskirts of Guwahati, India(AP Photo)

India underreported its market price support for wheat, rice: US tells WTO

Press Trust of India, Washington | By Press Trust of India
PUBLISHED ON MAY 10, 2018 04:48 PM IST
“When calculated according to WTO Agreement on Agriculture methodology, India’s market price support for wheat and rice far exceeded its allowable levels of trade distorting domestic support,” the US told WTO.
Last month, US President Donald Trump signed two proclamations that levied 25% tariff on steel and 10% tariff on aluminium imported from all countries except neighbouring Canada and Mexico.(Bloomberg)
Last month, US President Donald Trump signed two proclamations that levied 25% tariff on steel and 10% tariff on aluminium imported from all countries except neighbouring Canada and Mexico.(Bloomberg)

India likely to file dispute at WTO if US rejects exemption on tariffs, say sources

Reuters, New Delhi | By Reuters
UPDATED ON APR 23, 2018 02:52 PM IST
India recently requested exemptions, arguing that its exports of steel and aluminium to the US did not create a security concern for a country with whom it has a strategic partnership that goes beyond trade.
FILE PHOTO: US President Donald Trump signs a memorandum on intellectual property tariffs on high-tech goods from China, March 22.(REUTERS)
FILE PHOTO: US President Donald Trump signs a memorandum on intellectual property tariffs on high-tech goods from China, March 22.(REUTERS)

Global trade wars never end up benefiting anybody

Hindustan Times | By HT Correspondent
UPDATED ON APR 04, 2018 01:27 PM IST
The United States is threatening China with tariffs and other restrictive measures. China has retaliated with tariffs on US farm imports.
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