India and the EU will be back at the negotiating table after a high-level India – European Union Trade and Technology Council (TTC) meeting last month. The World Trade Organization (WTO) Thursday gave three months, till September 19 to India and the EU to settle a dispute regarding New Delhi’s import duties on specific information and technology products, in a breather for manufacturers of mobiles and IT products components in India.
At a meeting of the Dispute Settlement Body (DSB), the WTO granted it additional time to consider the adoption of the panel ruling, which had, earlier on April 17, said that the import duties imposed by India on specific information and technology products violate global trading norms under the Information Technology Agreement, based on disputes filed by the EU, Japan, and Taiwan against these duties
A deferment gives disputing parties time and opportunity to find an out-of-court settlement. In case that fails the EU could adopt the WTO panel filings and India could take the case to the Appellate Body which is non-functional for almost two years due to America’s blockage on appointing judges.