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WTO says recovery of global trade in 2021 hinges on widespread COVID-19 vaccination
World

WTO says recovery of global trade in 2021 hinges on widespread COVID-19 vaccination

While the rebound this year will be stronger than expected, WTO's growth forecast states it could slow to 4 percent in 2022.

Businesses plead for post-Brexit deal as trade talks remain stuck; EU, UK warn citizens to brace for upheaval
World

Businesses plead for post-Brexit deal as trade talks remain stuck; EU, UK warn citizens to brace for upheaval

A no-deal split would bring overnight tariffs and other barriers that would hurt both sides, although most economists think the smaller British economy would take a greater hit because the UK does almost half of its trade with the EU

African health official blasts 'terrible' vaccine inequality; high-income nations oppose proposal to waive IP rules
World

African health official blasts 'terrible' vaccine inequality; high-income nations oppose proposal to waive IP rules

A small group of high-income countries and their trading partners, including the EU, US, Brazil, Canada, Japan and the UK Thursday opposed South Africa and India's request to waive some intellectual property rules to allow for faster, easier access to COVID-19 vaccines around the world

Firmly opposed to India’s decision to block 43 more apps, says Chinese foreign ministry
World

Firmly opposed to India’s decision to block 43 more apps, says Chinese foreign ministry

Chinese foreign ministry spokesman Zhao Lijian said the ban on apps, under the pretext of national security, violates market principles and World Trade Organisation rules

BRICS Summit: Nations supporting terrorism must be held to account, says Narendra Modi
India

BRICS Summit: Nations supporting terrorism must be held to account, says Narendra Modi

In his address, the prime minister also underlined the need for UN Security Council reform as well as multilateral bodies such as the WTO and the IMF

China calls for reversal of ban on 59 apps, says it hasn't taken restrictive measures against Indian products and services
World

China calls for reversal of ban on 59 apps, says it hasn't taken restrictive measures against Indian products and services

Chinese commerce ministry Spokesman Gao Feng said that China has not taken any restrictive measures against Indian products and services.

Govt for anti-dumping duty on digital printing plates by China, Japan, 3 other nations; move aims at shielding local industry
Business

Govt for anti-dumping duty on digital printing plates by China, Japan, 3 other nations; move aims at shielding local industry

The authority is of the view that imposition of anti-dumping duty is required to offset dumping and injury, DGTR said

WTO: India pushes for building broadband infra, digital skills in LDCs, developing countries; questions rich nations on e-commerce norms
Business

WTO: India pushes for building broadband infra, digital skills in LDCs, developing countries; questions rich nations on e-commerce norms

In a special virtual meeting of the WTO's General Council on COVID-19 trade-related measures last week, India stated that there is a digital divide between developed and developing countries.

China says India's new FDI rules violate WTO principles on free and fair trade; hopes for revision in 'discriminatory practices'
Business

China says India's new FDI rules violate WTO principles on free and fair trade; hopes for revision in 'discriminatory practices'

India’s new rules for foreign investment violate WTO principles of non-discrimination and are against free and fair trade, a Chinese embassy spokesperson in New Delhi said on Monday

'If China is a developing nation, then make US one too': Donald Trump slams Beijing for taking 'unbelievable advantage'
World

'If China is a developing nation, then make US one too': Donald Trump slams Beijing for taking 'unbelievable advantage'

'China has been unbelievably taken advantage of us and other countries. You know, for instance, they are considered a developing nation. I said well then make us a developing nation too,' Trump told reporters at his daily White House news conference on coronavirus.

Coronavirus Outbreak: Pandemic to hit MSME exporters more; likely to face labour issues, say trade experts
Business

Coronavirus Outbreak: Pandemic to hit MSME exporters more; likely to face labour issues, say trade experts

The sector also contributes about 25% to the country''s GDP (Gross Domestic Product) from service activities and over 33% to the manufacturing output of India.

India takes US to WTO's safeguard committee for hiking duties on steel, aluminium derivatives
Business

India takes US to WTO's safeguard committee for hiking duties on steel, aluminium derivatives

India has sought consultations with the US, under the WTO's safeguard agreement, against American authorities'' decision to increase import duties on derivatives of steel and aluminium products

Taiwan seeks formation of WTO dispute panel in case against India's import duties on ICT products
Business

Taiwan seeks formation of WTO dispute panel in case against India's import duties on ICT products

Taiwan has sought the establishment of a dispute panel by the World Trade Organization in a case against India's import duties on certain information and communication technology (ICT) products, including mobile phones

WTO sees sharp fall in trade, calls for global solutions to tackle coronavirus crisis
Business

WTO sees sharp fall in trade, calls for global solutions to tackle coronavirus crisis

The world trade is expected to witness a sharp fall due to COVID-19 (coronavirus) crisis, and global solutions will be required to deal with the pandemic, according to the WTO

India under no obligation to implement WTO's panel recommendations on export schemes: Piyush Goyal
Business

India under no obligation to implement WTO's panel recommendations on export schemes: Piyush Goyal

India is under no obligation to implement the recommendations of the WTO's dispute panel on its export promotion schemes, which was challenged by the US, as New Delhi has appealed against that order at the higher level, Parliament was informed on Wednesday

Govt approves tax reimbursement scheme for exporters; says measures compliant with WTO norms
Business

Govt approves tax reimbursement scheme for exporters; says measures compliant with WTO norms

These taxes include value added tax (VAT), electricity duties and fuel used for transportation, which are not exempt or refunded under any other existing mechanism.

India pitches for elimination of trade-distorting subsidies on agriculture in WTO
Business

India pitches for elimination of trade-distorting subsidies on agriculture in WTO

On the World Trade Organization's (WTO) appellate body for dispute settlement, Goyal said the early restoration of the full strength of the body will help in realising the objectives of the WTO.

Donald Trump says WTO has been 'very unfair' to US for many years, claims America not considered 'developing nation' by global trade body
World

Donald Trump says WTO has been 'very unfair' to US for many years, claims America not considered 'developing nation' by global trade body

US President Donald Trump on Wednesday (local time) complained that his country has not been "treated fairly" by the World Trade Organisation (WTO), stating that the United States is not considered a 'developing nation' while China and India are, by the global trade body.

Donald Trump deals a crippling blow to WTO, Relaxo sales grow on back of premium products; all this and more on Moneycontrol Pro
Business

Donald Trump deals a crippling blow to WTO, Relaxo sales grow on back of premium products; all this and more on Moneycontrol Pro

Trump has done this to take forward his agenda of unilateralism in resolving the US disputes with its trading partners.

Singapore Deputy PM warns of greater economic uncertainty due to US-China trade war
Business

Singapore Deputy PM warns of greater economic uncertainty due to US-China trade war

Singapore Deputy Prime Minister Heng Swee Keat on Thursday warned of greater economic uncertainty due to the ongoing US-China trade war, and said the conflict will significantly disrupt the global supply chain if it continues further