India’s textile trade proportion is higher than .% and export subsidies may be cancelled
India may need to gradually eliminate export subsidies in the textile industry and initiate negotiations with other countries at the same time to ensure that India’s main export industries will not lose competitiveness after the subsidies are eliminated.
This is a task required under the World Trade Organization (WTO) Agreement on Subsidies and Countervailing Measures. This agreement allows developing countries to provide export subsidies when the export proportion of specific industries is less than 3.25% of total global trade.
In the past five years, India’s textile export proportion has been higher than 3.25%. Therefore, in accordance with the eight years stipulated in the WTO agreement, India must cancel export subsidies in the textile industry in 2015.
India has surpassed the threshold of 3.25% of the world’s textile and garment exports exceeding the total global trade volume.
Therefore, the United States, the European Union and other countries believe that India is no longer eligible to extend any textile export subsidies.
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