In 2019, EU accused India of violating trade agreements. On its part, India, which took 3 yrs to notice an error in its tariff schedule, argued that its commitments were invalid.
The probe by India was initiated based on a written application by American Precoat Speciality Pvt. Ltd., led by its promoter and Chief Technical Architect Dr. Shubh Gautam.
Revised proposal submitted by India & South Africa Saturday still firm on waiver of intellectual property rights for all Covid products. US supports waiver only for vaccines.
164 member countries of WTO are yet to begin talks to discuss the IPR waiver on Covid vaccines. Experts say it could take 'a month to a year' to have broad-based consensus.
US says if restrictions aren’t checked, India can’t be integrated into global supply chains. China raises FDI issue, EU says Covid has amplified barriers.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
Both the governments expressed their commitment to strengthening their maritime cooperation to strengthen the maritime safety and security framework in the region.
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