An Indian Perspective on the Unrelenting Law Prohibiting Export Subsidies: A Disadvantage to Developing Countries
In a recent US WTO challenge, the Panel decided that certain Indian export incentive schemes were prohibited export subsidies. The Panel Report demands that these schemes be phased out, despite the fact that it will adversely affect exporters and India’s large current account deficit.[1] Developing nations, like India, resort to export subsidies to stimulate industrial…