Financial Daily from THE HINDU group of publications
Thursday, Mar 21, 2002
Financial Daily from THE HINDU group of publications Thursday, Mar 21, 2002 |
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WTO Industry & Economy - WTO India withdraws plea against WTO auto ruling M.R. Subramani
CHENNAI, March 20 INDIA has withdrawn its appeal against a World Trade Organisation (WTO) ruling that its automobile policy is inconsistent with its obligations under the General Agreement on Tariffs and Trade (GATT). The appeal was withdrawn on March 14, just a day ahead before an appellate body of the WTO, headed by former Commerce Secretary, Mr A.V. Ganesan, was scheduled to conduct oral hearing. India had filed its appeal on February 11 and in accordance with the schedule for appeal, oral hearing was slated on March 15. But India sent a communication saying it was withdrawing its appeal and regretting for the "inconvenience caused". However, the withdrawal of the appeal is not surprising giving the Government's stand soon after the ruling by the WTO's Dispute Settlement Body. The Union Minister for Heavy Industries, Mr Manohar Joshi, had stated in December that the Government was not interested in pursuing the matter further. He had also stated that the ruling was not against India. WTO had ruled that two clauses in the Automobile Policy that allowed foreign manufacturers to assemble cars in India by importing SKD/CKD (semi-knocked down/completely knocked down) kits were, in particular, against its GATT obligations.
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