Recently, The WTO’s dispute settlement panel ruled that India’s export subsidy schemes, including the provision for special economic zones, violated core provisions of global trade norms. What are export subsidies? How will it Impact India?
Answer: Export subsidy is a government policy to encourage export of goods and discourage sale of goods on the domestic market through low-cost loans or tax relief for exporters, or government financed international advertising or R&D. An export subsidy reduces the price paid by foreign importers, which means domestic consumers pay more than foreign consumers. The WTO prohibits most subsidies directly linked to the volume of exports.
Impact on India
- Some of the schemes that will be affected by the WTO’s ruling include Merchandise Exports from India ....
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General Studies Mains Questions And Answers
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- 3 Give an account of the evolution of the relationship between the British power and the Indian princely states during the British rule, mentioning the key developments.
- 4 Describing the importance of big dams in India, throw light on the problems associated with them. Discuss the efforts made for dam safety in the country.
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- 10 The Nuclear Non-Proliferation Treaty is considered important to prevent the spread of nuclear weapons; yet India is opposed to this treaty. Explain.
