US, EU may slap non-trade barriers on imports from India: FIEO
After a stand-off in the WTO, the US and EU may retaliate against India by slapping non- trade barriers against its exporters.
By PTI |
NEW DELHI: After a stand-off in the WTO, the US and EU may retaliate against India by slapping non- trade barriers against its exporters, head of exporters' body said on Wednesday.
"Looking at scenario in the EU and US where they are already in recession they will try to take every step to stop imports from developing countries including India in the form on non-tariff measures," President of the Federation of Indian Export Organisations G K Gupta said.
He said the failure of WTO talks has also damaged the credibility of multilateral trade system and would encourage greater reliance on regional and bilateral trade agreements.
Gupta foresaw new trade priorities in the US with the change in administration after the Presidential elections.
The US and the 27-nation bloc EU are India's largest trading partners. A host of sectors like textiles, marine products, gems and jewellery, leather products and pharmaceuticals are exported to the US and EU.
"Looking at scenario in the EU and US where they are already in recession they will try to take every step to stop imports from developing countries including India in the form on non-tariff measures," President of the Federation of Indian Export Organisations G K Gupta said.
He said the failure of WTO talks has also damaged the credibility of multilateral trade system and would encourage greater reliance on regional and bilateral trade agreements.
Gupta foresaw new trade priorities in the US with the change in administration after the Presidential elections.
The US and the 27-nation bloc EU are India's largest trading partners. A host of sectors like textiles, marine products, gems and jewellery, leather products and pharmaceuticals are exported to the US and EU.
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