Government Proposes WTO-Compliant Schemes

  • The government proposed a World Trade Organization (WTO)-compliant export promotion scheme along with a production based support scheme to boost Make in India.
  • It is one of the 100-days agenda of the new government.
  • Under the special and differential provisions of the WTO’s Agreement on subsidies and countervailing measures, so-called least-developed countries and developing countries whose gross national income (GNI) per capita is below $1,000 a year at the 1990 exchange rate are allowed to provide export incentives to any sector that has a share below 3.25% in global exports.
  • According to a notification by the committee on subsidies and countervailing measures in ....
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