News Update

PLI scheme for electronics manufacturing sees incremental investment of Rs 8,390 CrG20 finance leaders agree to tax super-rich but forum not yet readyDPIIT promotes green logistics industry balancing economic growth and environmentIndia, US ink pact to stymie illegal trafficking of cultural propertyRailways expands tracks by 31,180 kmFroth in Yamuna river: Delhi complains to Centre against UP and HaryanaGovt to enhance reach of Indian Digital Public InfrastructureFormer BJP Minister says BJP has totally failed as Opposition in KarnatakaGovt provides incentives to small tea growersEU penalises 5 countries for infringing budget rulesI-T-Transaction involving transfer of unutilised shares cannot be deemed to be sale of shares so as to attract levy of Long Term Capital Gain u/s 112: ITATChina says Relations with Japan at critical stageST - Once the activity of appellant that is of forfeituring the amount of earnest money is not a declared service, question of retaining said money as consideration for rendering such service becomes absolutely redundant: CESTATEU medicines regulator disapproves Alzheimer’s new drugSC says no restrictions on voluntary name banners along Kanwar route eateriesFM favours debt reduction but sans affecting economic growthKargil Victory Day: PM warns Pak against practising terrorismChina pumps in subsidies worth USD 41 bn into car sectorMisc - Payments made to Government cannot be deemed to be a tax merely because statute provides for their recovery as arrears: SC CBMisc - Royalty not a tax; royalty is contractual consideration paid by mining lessee to lessor for enjoyment of mineral rights & liability to pay royalty arises out of contractual conditions of mining lease: SC CBMisc - Since power to tax mineral rights is provided for in Entry 50 of List II, Parliament cannot use its residuary powers in this subject matter: SC CBCus - Owner of goods has a liability to pay customs duty even after confiscated goods are redeemed on payment of fine - Interest follows: SC
 
India calls for restoration of Appellate Body at ongoing WTO meet

By TIOL News Service

NEW DELHI, FEB 28, 2024: AT the Working Session on Dispute Settlement (DS) Reforms, at the World Trade Organization's 13th Ministerial Conference on 28 February 2024, India emphatically called for the restoration of the Appellate Body as the top-most priority of any reform process, along for effective formalisation of the ongoing informal dispute settlement reform discussions among some Members at the WTO.

During the Working Session, WTO Members noted that the Appellate Body - the appellate arm of the DS system - had been non-functional since December 2019, due to the blocking of appointment of its Members by the United States. This had called into question the WTO's overall credibility and the rules-based trade-order it upholds. 

India recalled the commitment of WTO Members of 12th Ministerial Conference to conduct discussions with the view to having a fully and well-functioning dispute settlement system accessible to all Members by 2024. 

India reiterated its long-standing position that a credible and reliable WTO DS system is the bedrock of an equitable, effective, secure and predictable multilateral trading system. India emphasized that the outcome of any reform process should provide for the restoration of the Appellate Body, which remains a top-most priority for India. 

Moreover, India recalled that for the past year, it had engaged in good faith in the facilitator-driven informal DS reform discussions between certain Members, despite several deficiencies with the process. The format and pace of the informal discussions had posed significant challenges for most developing countries, particularly the least-developed countries (LDCs), from the outset. The informal organisation of these discussions made it extremely difficult for developing countries to participate effectively. 

As a way forward, India sought the immediate and effective formalization and multilaterization of the informal DS reform process by rectifying the procedural and substantive defects. To this end, India proposed a three-point action plan for Members:

First, to transition the discussions on dispute settlement reforms to WTO formal bodies, preferably under the guidance of the Dispute Settlement Body Chair to meet the mandates of paragraphs 3 and 4 of the MC12 Ministerial Declaration.

Second, to ensure that the transition is not just a mere formality but results in an effective multilateralization of the process which is Member-driven, open, transparent and inclusive, taking into account the myriad capacity and technical challenges of developing country Members and LDCs. Members should be provided an opportunity to bring in new proposals at any stage, and the resulting text should be fully representative of the views in the room and be consensus-based, with hybrid participation being permitted. 

Last, but in no way the least, to prioritise the restoration of the Appellate Body.


POST YOUR COMMENTS
   

TIOL Tube Latest

Dr. Shailendra Kumar, Chairman, TIOL Knowledge Foundation, addressing the gathering



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.