Upholding a complaint brought by the United States, a World Trade Organization (WTO) panel ruled on Thursday that India’s export subsidies were illegal and should be removed.
The panel largely agreed with US claims challenging export subsidies granted in the form of exemptions from customs duties and a national tax, while rejecting some US arguments. It called on India to withdraw the export-contingent subsidies within periods varying from 90 to 180 days.
The US Trade Representative's Office, in a statement, said that the panel had agreed that India provided prohibited subsidies to Indian exporters worth more than $7 billion (5.4 billion pounds) annually, including to producers of steel products, pharmaceuticals, chemicals, IT products and textiles.
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