India to have Special 301-type export report THE Union government plans to bring out an annual export report similar to the US’s Special 301 Report which identifies trade barriers to US companies in other countries and provides solutions to them. The Indian version of the report would enumerate the non-tariff barriers faced by Indian firms and exporters abroad. These reports would be published around the time the Foreign Trade Policy is brought out and would focus primarily on regions such as the US, Europe, Japan and China. These are destinations where Indian companies, especially exporters, have faced various challenges such as unfair competition, price negotiation and technical barriers, a senior official from the Commerce Department said. He added that it would be a lot easier to challenge any World Trade Organization (WTO) member country that unfairly blocks Indian exports once such a mechanism was established. Such reports might also be useful while resolving any trade-related dispute at the WTO’s dispute settlement body, he added.
Posted on: Wed, 23 Jul 2014 07:19:19 +0000