Japan drags India to WTO |
Japan has dragged India to the World Trade Organisation (WTO) against certain measures taken by New Delhi on imports of iron and steel products.On December 20, Japan notified the WTO Secretariat that it had requested dispute consultations with India in the dispute `India-Certain Measures on Imports of Iron and Steel Products`. India has imposed minimum import price (MIP) on imports of certain iron and steel products.In February, India imposed MIP of 173 products for six months, which was later extended twice for two months. Earlier this month, the government extended MIP on 19 products till February 4, 2017. WTO-compliant measures like anti-dumping duty should be used to overcome the issue of cheap imports of commodities like steel as MIP is not compliant with the global trade norms, pleads India. India has imposed MIP as growing imports from steel surplus countries like China, Japan and Korea with predatory prices have been a major concern for the domestic industry since September 2014.India has also imposed anti-dumping duties on certain steel products to guard domestic players from cheap imports.As Japan has filed the case, it will do bilateral consultations with India on the issue.
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