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World Trade Organization




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  • 1. Creating A World Without Walls! And its Impact on Indian Business Environment.
  • 2. World Trade Absolute Advantage Theory Relative Advantage Theory
  • 3. World Trade Organization
    • The World Trade Organization (WTO) is an international trade institution.
    • 2. The WTO superseded and replaced the GATT. The
    • GATT was a provisional, multilateral agreement
    • governing international trade from 1947 until January 1, 1995 .
  • 4. Core Principles of WTO Non - Discrimination Reciprocity of Trade Concessions Trade Liberalization Transparency and predictability in import and export rules and regulations . Favorable treatment to less developed countries. MFN - Any trade concession a nation offers to one member, it must offer to all National Treatment. This means that imported products must be treated the same as domestic goods.
  • 5.
    • WTO also broke new ground, adding a number of
    • trade sectors and issues not addressed by the GATT
    GATT to WTO The General Agreement on Trade in Services (GATS) adds services Trade in Intellectual Property Rights (TRIPs) adds copyrights, and patents Trade Related Investment Measures (TRIMs) sets rules for Foreign Direct Investment. Government Procurement (GPA) & the Information Technologies (ITA) agreements also international rules on new product areas.
  • 6. Bretton Woods System GATT IMF WORLD BANK
  • 7.
    • The GATT had functioned as an international organization for many years even though it was never been formalized as such.
    • When it came time for the members to ratify the ITO Charter, the Congress of the United States refused and the ITO never became a reality. The GATT survived, but remained intact only due to the Protocol of Provisional Application of the General Agreement on Tariffs and Trade which was concluded in 1947 and which entered into force in 1948.
    General Agreement on Tariffs & Trade
  • 8.
    • The GATT completed 8 rounds of multilateral trade negotiations (MTNs). The Uruguay Round (the 8 th round) concluded with the signing of the Final Act on April 15, 1994, in Marrakesh, and produced the World Trade Agreement (WTO) and its annexes.
    • 1st January 1995 , establishment of the World Trade Organization.
    • March, Mr. Renato Ruggiero was appointed Director-General of the World Trade Organization
  • 9. ROUNDS Year Rounds / Events 1947 The Birth of GATT at Palais des Nations at Geneva 1948 Entry into Force(Havana, Cuba) 1949 Second Round at Annecy, France. 1950 Third Round at Torquay, UK 1956 Fourth Round at Geneva 1958 The Haberler Report 1960 Fifth Round (The Dillon Round) 1961 Beginning of the MFA 1964 The Kennedy Round 1965 Trade and Development Chapter 1973 The Tokyo Round 1974 Multifibre Arrangement (MFA).
  • 10. ROUNDS 1982 Seeds of Uruguay Round 1986 Eighth Round (The Uruguay Round at Punta del Este, Uruguay) 1988 Midterm Review of the Uruguay Round 1993 Successful Conclusion of the Uruguay Round 1994 Signing of the Uruguay Round Agreements in Marrakesh 1995 Establishment of the World Trade Organization 1996 Agreement on Trade-related Aspects of Intellectual Property Rights (TRIPS) 1996 First World Trade Organization Ministerial Conference to be held in Singapore 1997 Telecom Agreement 1998 Geneva Ministerial 1999 Seattle Ministerial Conference 2000 Mandated Negotiations 2001 Ministerial Conference at Doha 2003 Fifth Ministerial Conference at Cancun, Mexico.
  • 11.
    • International trade in textiles and clothing was favouring liberalization of world trade all along its history.
    • After the end of Second World War, restrictions on cotton textiles began to be applied under Voluntary Export Restraints .
    • The Short Term Arrangement was followed by Long Term Arrangement (LTA), which was in force from 1962 to 1973.
  • 12. AGREEMENT on TEXTILE & CLOTHING (ATC) Multifibre Arrangement (MFA) 1974 - 1992 General Elimination of Quantitative Restrictions Non- discriminatory Administration of Quantitative Restrictions Emergency Action on Imports of Particular products The principle of Most Favoured Nation (MFN) treatment was thrown out of the window! MFA set aside, for the sector, the rules and disciplines of
  • 13.
    • To achieve meaningful liberalization of textile trade ATC
    • was introduced.
    • Salient Features
    • Specifically, ATC presents some definitive advantages over the MFA era, viz.,
    • It puts an end to the long life of MFA.
    • It brings textiles and clothing at par with all other industrial products, and the sector ceases to be a "special case".
    • It is self-destructive, since it definitively extinguishes on 31 Dec. 2004.
  • 14. Stage Timing % of 1990 import volume integrated   % uplift on growth rates for remaining quotas   I Day 1 (1 Jan 1995) 16 16 II 37th month (1 Jan 1998) 17 25 III 85th month 18 27 IV (End of Transition) 121st month (1 Jan 2005) 49   TOTAL   100   AGREEMENT on TEXTILE & CLOTHING (ATC)
  • 15.
    • Textile in India
    • Roughly employed 35 million people (in 2000-2001).
    • The second largest employer in the country after agriculture.
    • The sector’s contribution to the GDP stands at over 6% .
    • The economic significance of the industry is further established by the fact that it contributed about 18 per cent of the industrial production in the country and about 30 per cent of its export earnings.
  • 16.
    • Indian textiles is integrated in nature i.e. the industry not only grows its own raw materials (cotton, jute, silk and wool) but also processes the same into high value products like fabrics and garments. Despite quota restrictions, Indian textile exports have grown at a CAGR of over 17% in the period FY93 to FY02.
    • The garment sector, however, has emerged as the most globalised sector in the world today .
    • According to the ministry of commerce, 51 per cent of the total textile exports in 2000-2001, was from the garment sector alone. Nearly 80 per cent of Indian clothing exports go to the USA and the EU.
    Impact of ATC on Indian Textile & Clothing Industry AGREEMENT on TEXTILE & CLOTHING (ATC)
  • 17. India: Textile Exports Source: Ministry of Textiles (US$ m) Target FY04 FY04* % target FY03* Textiles 13,625 10,499 77.1% 9,712 - Readymade Garments 6,250 4,947 79.1% 4,746 - Cotton Textiles 4,775 3,107 65.1% 3,034 - Man-made Textiles 1,750 1,634 93.4% 1,270 - Woolen Textiles 500 328.7 65.7% 250.6 - Silk 350 482.8 137.9% 411.6 Handicrafts 2,685 1,200 44.7% 1,430 - Other and Carpets 2,350 919 39.1% 1,190 - Jute 85 69.1 81.3% 173.7 - Coir 250 211.6 84.6% 66.5 Total (Textiles+ Handicrafts) 16,310 11,699 71.7% 11,142
  • 18.
    • The root cause of distortion of international trade in
    • agriculture has been the massive domestic subsidies
    • given by the industrialized countries to their
    • agricultural sector over many years. This in turn led
    • to excessive production and its dumping in
    • international markets as well as import restrictions
    • to keep out foreign agricultural products from their
    • domestic markets.
  • 19.
    • The obligations and disciplines incorporated in the
    • Agreement on Agriculture, therefore, relate to :-
    AGREEMENT on AGRICULTURE (AoA) Market Access Domestic Subsidy or Domestic Support Export Subsidy
  • 20.
    • On Market Access, the Agreement has
    • two basic elements:
    AGREEMENT on AGRICULTURE (AoA) Market Access Tariffication of all non-tariff barriers . Tariffs on agricultural products, are to be reduced by a simple average of 36% over 6 years in the case of developed countries and 24% over 10 years in the case of developing countries. Setting up of a minimum level for imports of agricultural products by member countries as a share of domestic consumption
  • 21.
    • Commitment made requires a 20% reduction
    • in total AMS for developed countries over 6 years.
    • For developing countries, this percentage is 13%
    • and no reduction is required for the least developed
    • countries.
    AGREEMENT on AGRICULTURE (AoA) Domestic Support
  • 22.
    • It is worth noting that developing countries
    • are free to provide three of the listed
    • subsidies, namely, reduction of export marketing
    • costs, internal and international transport and freight
    • charges.
    Export Subsidies AGREEMENT on AGRICULTURE (AoA)
  • 23.
    • SPS Agreement recognizes the right of each WTO member to adopt an appropriate level of protection of trade - restricting measures to protect human, animal, and plant life and health, but insists that such measures be based on a scientific assessment of the risks, be applied only to the extent necessary to achieve public health, and not discriminate between domestic and foreign products or threats.
    • It sets out clearer and more detailed rights and obligations for food safety, and animal and plant health measures which affect trade. Countries will be permitted to impose only those requirements which are needed to protect health and which are based on scientific principles.
  • 24.
    • The SPS agreement does however encourage governments to harmonize
    • or base their national measures on the international standards, guidelines
    • and recommendations developed by WTO member governments in other
    • international organizations.
    SANITARY & PHYTOSANITARY AGREEMENT (SPS) Animal Health Joint FAO/WHO Codex Alimentarius Commission (CAC) Office of Epizootics (OIE), Plant Health International Plant Protection Convention (IPPC)
  • 25.
    • SPS measures in comparison to tariff barriers use a soothing phrase based on scientific principles and are not maintained without sufficient scientific evidence.
    • The SPS measures are used to deny entry to Indian products on grounds of injury to human, animal, or plant health. The SMEs also find it hard to comply with the high standards set by industries in the developed world, as they require large investments. Standards can potentially impede international trade by imposing unnecessarily costly and time-consuming test or by laying out unjustified different requirements in different markets.
    • Many developed countries have imposed stringent SPS norms on food items, which are much higher than the Codex norms, and this is causing the rejection of export consignments of developing countries including India.
  • 26. SANITARY & PHYTOSANITARY AGREEMENT (SPS) Exports of Agro and allied products contributed more than 20 per cent in India’s total exports in 1996-97 Which fell down to 12.28% in 2002-03 US $ 6,868 Million US $ 6,428 Million
  • 27.
    • 1 January 1996 - Agreement on Trade-related Aspects of Intellectual Property Rights (TRIPS) enters into force for developed countries
    • As a signatory to the Uruguay round of GATT, which concluded in 1994, India was obliged to meet all provisions of the Trade Related Aspects of Intellectual Property Rights (TRIPs) .
    • A transition period was accorded to developing countries depending on their state of development. India availed itself of the complete term of this transition period i.e. 10 years, to set up an IPR system in compliance with TRIPS.
    Trade Related aspects of Intellectual Property Rights (TRIPS)
  • 28.
    • The countries that initiated TRIPS are USA,
    • Europe and Japan economic growth.
    Economic Growth Trade Related aspects of Intellectual Property Rights (TRIPS) Private Investment in R & D Increased flows of FDI & Technology Transfer to Developing Countries Stimulate Local Innovation Enable the MNC’s of the Developed Countries to recuperate markets from Local Imitators
  • 29.
    • Intellectual property rights are customarily divided into two main areas :
    Copyright and Rights related to copyright Industrial Property Trade Related aspects of Intellectual Property Rights (TRIPS)
  • 30.
    • Copyright and Rights related to copyright
    • The main social purpose of protection of copyright and related rights is to encourage and reward creative work.
    Authors of literary and artistic works Performers Producers of phonograms Broadcasting Organizations Trade Related aspects of Intellectual Property Rights (TRIPS)
  • 31.
    • Industrial Property .  
    Distinctive Signs Trademarks Geographical Indications Innovation, Design & Creation of Technology Inventions Industrial Design Trade Secrets Trade Related aspects of Intellectual Property Rights (TRIPS)
  • 32.
    • India has complied to its obligation by amending the Indian Patents Act 1970 (based on the Ayyangar Report of 1959) thrice, once in 1999 then in 2003 and then on 31 st December 2004.
    • In last few years India has fully enacted TRIPs compliant Trademarks Act, Designs Registration Act, Copyright Act and such other acts related to fields of IPR.
    Trade Related aspects of Intellectual Property Rights (TRIPS)
  • 33.
    • Lowest in 1995 (4000)
    • Reason: Patents were not being kept alive and in force by payment of the
    • yearly fees.
    • Almost 75% of in the patent applications filed in India are by foreigners.
    Patent Statistics Trade Related aspects of Intellectual Property Rights (TRIPS) 1970 30000 1996 < 9500
  • 34.
    • The prescription by TRIPS for product patent implies the
    • following for the industry:
    • The industry has to now emphasis on basic research. The days of core competence of the industry in reverse engineering are over. The units in the industry now have to offer newer products to the customers in order to survive.
    • The companies have to start afresh on research. They need to add the necessary wherewithal to conduct research in their units.
    • It is now necessary to have a policy for innovation for the purpose of survival.
    • To exploit such innovations commercially over a period of time, the IPR strategy needs to be developed and implemented .
    Trade Related aspects of Intellectual Property Rights (TRIPS)
  • 35.
    • The introduction of TRIPS and its compliance has posed
    • some challenges to the Indian pharma industry
    • The industry feels that the TRIPS in its present form, is tipped in favour of developed nations and multinational pharmaceutical firms and that there is nothing trade related about TRIPS and that the right to trade is being exploited by developed countries.
    • Indian sovereignty and the public health policy should not be compromised at huge costs to the Indian public. It is opined that TRIPS in fact violates the human rights.
    • TRIPS would strike at the industry's ability to engage in a sustainable development in self-reliant way.
    Trade Related aspects of Intellectual Property Rights (TRIPS)
  • 36.
    • It is feared that in this big shake up, a number of medium and small pharma companies are forced to pull down their shutters. This would mean loss of job for thousands of employees.
    • Companies which do not have enough R&D competence and orientation and who want to be in the race and survive may be forced to go in for mergers, joint ventures etc.
    • Companies may have to increase their R&D spending and allocations to almost double.
    • Overall growth rate of the industry may slow down considerably or may be even remain stagnant for some time.
    • Above all, drugs could become expensive and beyond the reach of common man.
    Trade Related aspects of Intellectual Property Rights (TRIPS)
  • 37.
    • Following are some of the new opportunities for growth
    • the pharma industry foresees after 1-1-2005
    • It is predicated that by the time the legislation comes into force on 1 January, 2005, drugs worth around US $ 30 billion would be going off the patent. This would mean a very good opportunity for the industry to sell formulations and bulk drugs through out the world.
    • A very healthy growth is predicted to the industry even in spite of competition on the ground that most of the companies posesses strong process re - engineering skills and lower cost of development.
    • Outsourcing by MNCs in areas of bulk drugs, formulations, for patented and off-patent products. This would mean serious strategic alliances and bringing in of foreign exchange.
    Trade Related aspects of Intellectual Property Rights (TRIPS)
  • 38.
    • Apart from outsourcing, the infrastructure could be used by foreign manufacturers for contract manufacturing of pharma products.
    • Indian pharma could also be an important sourcing platform for many
    • multinational in new drug research.
    • The industry would use its technical and man power skills for research and innovation. However the industry would still be able to market older drugs, which is not included in the patents list.
    • Once a new product is developed the inventor would secure monopolistic rights of production and marketing for a period of 20 years, which is very substantial
    Trade Related aspects of Intellectual Property Rights (TRIPS)
  • 39. Trade Related aspects of Intellectual Property Rights (TRIPS) Copyrights Indian Software Music and Film industry besides authors, publishing companies Trademarks Impact on counterfeit Trade. Care should be exercised in choosing names of the companies or products e.g. (Maruti, Reliance, Usha etc.). Industrial Designs & Layout Designs Implications for Indian Designers as well as Garment/ Textiles Industry using protected designs
  • 40. Trade Related aspects of Intellectual Property Rights (TRIPS) Employees, consultants, licensee, sub-contractors, etc. restrained from divulging confidential information. Undisclosed Information & Trade Secrets Geographical Indications Major impact on Agri - food products. Benefits from Improved systems. Ours not having law on GIs has led to controversies on Basmati, Darjeeling Tea, Alphanso Mangoes etc
  • 41. Source: Ministry of Textiles (US$ m) Target FY04 FY04* % target FY03* Textiles 13,625 10,499 77.1% 9,712 - Readymade Garments 6,250 4,947 79.1% 4,746 - Cotton Textiles 4,775 3,107 65.1% 3,034 - Man-made Textiles 1,750 1,634 93.4% 1,270 - Woolen Textiles 500 328.7 65.7% 250.6 - Silk 350 482.8 137.9% 411.6 Handicrafts 2,685 1,200 44.7% 1,430 - Other and Carpets 2,350 919 39.1% 1,190 - Jute 85 69.1 81.3% 173.7 - Coir 250 211.6 84.6% 66.5 Total (Textiles+ Handicrafts) 16,310 11,699 71.7% 11,142
  • 42.
    • GATS came into existence as a result of the Uruguay Round of negotiations and entered into force on 1 January 1995, with the establishment of the WTO .
    • Prior to the Uruguay Round, services were considered to offer less potential for trade expansion than goods .
  • 43.
    • Objective
    • It aims at stimulating trade and development by seeking to create a
    • predictable policy environment wherein the member countries voluntarily
    • undertake to bind their policy-regimes relating to trade in services.
    Salient Features The GATS covers all internationally traded services with two exceptions: services provided to the public in the exercise of governmental authority, and, in the air transport. Sector, traffic rights and all services directly related to the exercise of traffic rights.  GENERAL AGREEMENT on TRADE in SERVICES (GATS)
  • 44.
    • Business Services (including professional and computer services).
    • Communication Services.
    • Constructing & Engineering Services.
    • Distribution Services (e.g. Commission agents, wholesale & retail trade and franchising).
    • Education Services.
    • Environmental Services.
    • Finance (including finance and banking) Services.
    • Health Services.
    • Tourism & Travel Services.
    • Recreational, Cultural & Sporting Services.
    • Transportation Services.
    • Other Services not elsewhere classified
    GENERAL AGREEMENT on TRADE in SERVICES (GATS) The WTO Secretariat has divided all services into 12 sectors.
  • 45. GENERAL AGREEMENT on TRADE in SERVICES (GATS) Mode I: Cross - Border Supply Mode II: Consumption Abroad Mode III: Commercial Presence Mode IV: Presence/ Movement of natural persons. (Export of Manpower) GATS provide for four modes of supply of services
  • 46. GENERAL AGREEMENT on TRADE in SERVICES (GATS) 1. Economic performance Impact of GATS on Indian Business 2. Development 3. Employment Opportunities 4. Consumer Choice 5. Technology Transfer
  • 47.
    • Governments often impose conditions on foreign investors to encourage investment in accordance with certain national priorities. Conditions that can affect trade are known as trade-related investment measures or TRIMs.
    • The Agreement on TRIMs, which was negotiated in the Uruguay Round, requires countries to phase out TRIMs that have been identified as being inconsistent with GATT rules.
    • It would be necessary to consider the feasibility of applying to foreign direct investment the GATT principles of national treatment (which would give foreign companies the same right as domestic companies to invest in, and to establish, local operations) and MFN treatment (which would prevent countries from discriminating amongst sources of investment).
    • Trade-related investment measures have been used mainly, if not exclusively, by developing countries to promote development objectives. For instance, the growth of domestic ancillary industries has been sought through the imposition of local content requirements and export expansion through export performance requirements. In many cases, TRIMs are designed to deal with the restrictive business practices of transnational corporations and their anti-competition behaviour
  • 48.
    • TRIMs prohibited on the grounds that they extend more
    • favourable treatment to domestic products in comparison to
    • imports and thus infringe the national treatment principle
    • include those that require:
    • Purchase or use by an enterprise of products of domestic origin or from any domestic source (local content requirements), or
    • That an enterprise’s purchase or use of imported products should be limited to an amount related to the volume or value of the local products it exports (trade-balancing requirements).
  • 49.
    • As per the provisions of Art. 5.1 of the TRIMs Agreement India had notified three trade related investment measures as inconsistent with the provisions of the Agreement:
    • Local content (mixing) requirements in the production of News Print.
    • Local content requirement in the production of Rifampicin and Penicillin – G, and
    • Dividend balancing requirement in the case of investment in 22 categories consumer goods.
    • Such notified TRIMs were due to be eliminated by 31st December, 1999.
    • None of these measures is in force at present. Therefore, India does not
    • have any outstanding obligations under the TRIMs agreement as far as
    • notified TRIMs are concerned.
  • 50.
    • The GATT lays down the principles to be followed by the member countries for imposition of anti-dumping duties, countervailing duties and safeguard measures.
    • Indian laws were amended with effect from 1.1.95 to bring them in line with the provisions of the respective GATT agreements.
    • Anti Dumping duties are expected to overcome only the problem of DUMPING.
    • To deal with the problem of direct and indirect subsidies there is a provision for COUNTERVAILING duties.
    • Safe guard measures are taken to deal with the problem of increased imports. Can take the form of tariff increase or quantitative restriction.
  • 51.
    • Introduction
    • Dumping is said to have taken place when an exporter sells a product to India at a price less than the price prevailing in its domestic market.
    • The phenomenon of dumping is per se not condemnable as it is recognised that
      • Producers sell their goods at different prices to different markets.
      • Not unusual for prices to vary from time to time in the light of supply and demand conditions.
      • Price discrimination in the form of dumping is a common international commercial practice
      • Not uncommon that export prices are lower than the domestic prices.
  • 52. Of the LIKE ARTRICLES sold in the DOMESTIC MARKET of the exporter. ANTI DUMPING Dumping Occurs When EXPORT PRICE NORMAL VALUE
  • 53. ANTI DUMPING Margin of Dumping Refers to the difference between the Normal Value of the Like articles and the Export Price of the product under consideration.
  • 54.
    • At the ex-factory level
    • Due allowance of factor affecting comparison
    • Physical characteristic, Level of Trade, Quantities, Taxation, Conditions and terms of sale
    ANTI DUMPING Normal Value Vs Export Price
  • 55.
    • Anti dumping Duties
      • Lesser Duty Rule
      • Under the GATT provisions, the national authorities cannot impose duties higher than the margin of dumping . It is, however, suggested that it would be desirable if the appropriate Government authorities impose a lesser duty , which is adequate to remove the injury to the domestic industry. Under the Indian laws, the Government is obliged to restrict the anti-dumping duty to the lower of the two i.e. dumping margin and the injury margin.
  • 56.
    • Injury Margin
    • Besides the calculation of the margin of dumping, the Designated Authority also calculates the injury margin , which is the difference between the fair selling price due to the domestic industry and the landed cost of the product under consideration .
    • Landed cost for this purpose is taken as the assessable value under the Customs Act and the basic customs duties.
  • 57.
    • De Minimis Margins
    • Any exporter whose margin of dumping is less than 2 % of the export price shall be excluded from the purview of the anti dumping
  • 58.
    • Price Undertakings
    • The Designated Authority may suspend or terminate investigation if the exporter concerned furnished an undertaking to revise his price to remove the dumping or the injurious effect of dumping as the case may be. No undertaking can however be accepted before preliminary determination is made. No anti-dumping duties are recommended on such exporters from whom price undertaking has been accepted. No price undertaking may, however, be accepted in case it is found that acceptance of such undertaking is impracticable or is unacceptable for any reason.
  • 60.
      • With removal of licensing restrictions on imports, there has
      • been a tendency on the part of several trading partners of
      • India to resort to dumping of their goods of different kinds
      • into India, thereby creating a situation of unfair competition
      • in the domestic market.
      • --To address such a scenario of unfair trade, the anti dumping measures have assumed a great deal of significance.
      • --The anti dumping measures do not aim at providing protection to the domestic industry per se. These are only remedial measures for removal of injury to the domestic industry caused by the dumping of goods. The object behind such measures is to re-establish fair competition.
  • 61.
    • The analysis of the impact of imposition of antidumping duty studied by the Directorate shows that:
    • • Imposition of anti-dumping duty has not caused any decline of exports of the products investigated;
    • • The competitiveness of the domestic industry has improved to some extent. However, due to the continuance of dumping the profitability of the domestic industry has been eroded ;
  • 62.
    • • The domestic industry has been able to enhance its production capacity consequent to the imposition of antidumping duty. This has led to higher production of Indian goods , higher investments leading in turn to growth in employment avenues ; and
    • • Imposition of anti-dumping duty has not led to protection of monopolies as the domestic producers continue to face the competition in the global economy.
  • 63. India is proud to have been a founder Member both of GATT and of WTO. Over the years, our negotiators have played a prominent role in shaping the contours of the multilateral trading system, as it exists today . Conclusion
  • 64.
    • However fears, anxiety and insecurity of the developing nations cannot be ignored. The WTO should be confined to trade issues -- and trade issues only. The WTO cannot be allowed to become another world government. We cannot allow ourselves to be threatened by sanctions and forced to reduce our competitive advantage. We have to resist such attempts. As the WTO is not like the IMF where a country's voting power depends on the shares it holds in the bank, every member in the WTO has a vote. There is no difference between a Nepal or a Bangladesh or a Japan or a USA there. It is mandatory in the forum to have consensus in every policy. So, if twenty countries block a policy, nothing can be done!
  • 65.
    • As a member of the World Trade Organisation, India will continue to interact with other nations to further protect and promote our national interests.
  • 66. Thank You
  • 67.
    • If there is no export price or the export price is not reliable coz of the association or a compensatory arrangement between the exporter and the 3 rd party then it is price at which the imported articles are first resold to an independent buyer.
    ANTI DUMPING Export Price --- of the goods imported into India is the price paid or payable for the goods by the first independent buyer.
  • 68. ANTI DUMPING Normal Value- - is the comparable price at which the goods under complaint are sold in the ordinary course of trade in the domestic market of the exporting country or territory.
  • 69. ANTI DUMPING Like Articles- - Identical – alike in all respect. If not alike in all respect, having closely resembling characterictics.
  • 70. ANTI DUMPING Domestic Market- - The Indian producers of like articles as a whole or those producers whose collective output constitutes a major proportion of total Indian Production. Producers who are related to the exporters or importers or are themselves importers of allegedly dumped goods shall be deemed not to form part of the domestic industry.