India Is Going To Cancel Export Subsidy For Textile Industry In 2015.
India may gradually be eliminated.
Textile industry
The export subsidies may initiate negotiations with other countries to ensure that India's main export sectors will not lose competitiveness after subsidies are abolished.
India may gradually eliminate export subsidies from the textile industry, and may initiate negotiations with other countries to ensure that India's main export sectors will not lose competitiveness after subsidies have been abolished.
This is a work requested by the World Trade Organization (WTO) agreement on subsidies and countervailing measures.
The agreement allows developing countries to provide export subsidies at a time when exports are lower than 3.25% of world trade in specific sectors.
In the past 5 years, India's market share has been higher than 3.25%. Therefore, in accordance with the 8 years stipulated in the WTO agreement, India must cancel export subsidies for the textile industry in 2015.
"India has surpassed the 3.25% threshold of world textile and clothing trade. Therefore, the United States and other countries believe that we are not eligible to extend any textile export subsidies," said Mr. Nair, Secretary General of the India Textile Industry Federation (CITI). Mr. DK
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