Home » Parliament » India’s Trade Policy

India’s Trade Policy

India’s Trade Policy Review (TPR) has been carried out by the World Trade Organization (WTO) under the Trade Policy Review Mechanism, wherein the trade related policies of Member countries are reviewed at regular intervals by the WTO. India’s TPR meetings were held on 6th & 8th January 2021.

USA and the EU have flaggedcertain trade related issues, including increase in import duties, during the recently held TPR meetings.

Applied rates of customs duty in India are determined keeping in view the overall economic and other policy objectives, which include enhancing domestic value addition, creating a level playing field, ensuring availability of raw materials at competitive prices, securing economic interests of the country, ensuring supply of essential items at affordable prices. Import duties have been rationalized across a few sectors, which can be accessed at https://www.cbic.gov.in/.

Some Member countries, including USA and the EU, raised certain questions regarding MFN applied tariff rates, agricultural support programmes such as MSP, etc.  Replies thereto have been given to the WTO. The WTO Agreement on Agriculture provides the rules for trade in agriculture. India’s agriculture support programmes, including the support through MSP mechanism, are consistent with India’s obligations under the Agreement and are being notified to the WTO as required therein.

This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri Hardeep Singh Puri, in a written reply in the Lok Sabha today


About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *



Check Also

Incentives to Foreign Companies

The Government of India is making continuous efforts under InvestmentFacilitationfor implementation of Make in India ...

Export Targets

India’s exports during the last three years are as under: Year Exports (Merchandise +Services) (USD ...

Vocal for Local

Government of India has issued the Public Procurement (Preference to Make in India) Order,2017 as ...

National Coal Index

Ministry of Coal has started Commercial Auction of coal mines on revenue share basis. In ...

Esic Dispensaries and Hospitals

The Total number of hospitals and dispensaries, including Dispensary cum Branch Office (DCBO), run directly ...

Compressed Biogas Plants

Government of India has launched Sustainable Alternative Towards Affordable Transportation (SATAT) initiative on 1.10.2018 to ...

Imports of Petroleum/Natural Gas

The share of crude oil imports and domestic crude oil production in the total crude ...

Demand and Production of Steel

The announcements in Budget for the Financial Year, 2021-22 viz. Capex allotment of  Rs. 1,07,100 ...

Introduction of New Trains

To facilitate passengers, Indian Railways, during the period 2018-19 & 2019-20, has introduced new services, ...

Policy to boost Agricultural Exports

The Government introduced a comprehensive Agriculture Export Policy with the following vision: “Harness export potential ...

WP2Social Auto Publish Powered By : XYZScripts.com