US-India decision to end trade dispute a big win: Piyush Goyal
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New Delhi: The US and India’s decision to end six major trade disputes at the World Trade Organization (WTO) is a major victory and will benefit both countries. Commerce and Industry Minister Piyush Goyal said this on Friday. India and the US have agreed to settle six trade disputes at the WTO. It was announced during Prime Minister Narendra Modi’s state visit to the US at the invitation of US President Joe Biden and US First Lady Jill Biden. Of the six disputes that the two countries have agreed to resolve at the WTO, three were initiated by India, while the same number were initiated by the US. These include countervailing measures on hot-rolled carbon steel flat products, certain measures on solar cells and modules, measures on the renewable energy sector, export-related measures, certain measures on steel and aluminum products.
It is a big victory for India and beneficial for both the countries, Goyal told reporters here. He said that now there is no dispute pending between India and US in WTO. On the poultry issue, he said both sides are discussing it and will find a solution by the end of this year. The minister said that in this way there will be no dispute left between India and America by the end of this year. All six major controversies are over.
He said, that for the first time we are ending the disputes bilaterally. India had lost a dispute with the US in 2015 over a ban on poultry imports at the WTO’s dispute settlement body. He said that resumption of talks in the Trade Policy Forum has started yielding significant results.
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