India Stands By New Digital Tax Opposed By US India Stands By New Digital Tax Opposed By US The government said a 2 per cent equalization duty on foreign e-commerce companies imposed last year would apply even to companies that do not own the goods or provide the services on their platforms and if any part of the transaction is online.
The new digital tax faces opposition from big US tech firms such as Google and Facebook
New Delhi:
India on Wednesday defended a new digital tax which faces opposition from big US tech firms such as Alphabet s Google and Facebook and the United States Trade Representative (USTR).
Synopsis
The secretary said measures like production-linked incentive scheme would expand the manufacturing base and that will take exports to the true potential.
Reuters
The Budget 2021 has proposed rationalisation of customs duty structure with a thrust on both easy and competitive access to raw material and infant industry protection.
New Delhi: The country s exports recorded a positive growth in January and the outbound shipments are fast moving towards pre-COVID-19 levels, a top government official said on Wednesday.
Commerce Secretary Anup Wadhawan also said India is well on the way to breaking into new frontiers and exporting goods such as mobile phones and other electronic goods.
India on Friday urged the members of the World Trade Organization (WTO) to work on finding a permanent solution to the issue of public stock holding for food security purposes. Commerce Secretary Anup Wadhawan said the ongoing COVID-19 pandemic has again brought to the fore the importance of food and livelihood security. He urged the Membership for a permanent solution to Public Stock Holding (PSH) for food security , the Commerce Ministry said in a statement. The comments were made during the final session of India s seventh Trade Policy Review (TPR) which concluded on Friday at the WTO in Geneva. Wadhawan also informed that India has a stable policy environment with considerably lower applied rates than its WTO commitments.
China’s statement came during WTO review of India’s trade policy after the United States and European Union (EU) flagged issues like increase in import duties
Time for Modi-Biden Tango
Having deliberately opted out of the world s largest trade bloc, RCEP, India can now push for the limited trade deal with the US
Illustration by Raj Verma
He (Joe Biden) won because the election was rigged. A tweet from US President Donald Trump on November 15 was his first acknowledgement that he has lost the presidential elections. The same day, something symbolically significant happened in another corner of the world. Fifteen countries, mostly Asian, signed the worlds biggest free trade pact, the Regional Comprehensive Economic Partnership (RCEP) Agreement, which covers 30 per cent of the global economy.
Trump has been an advocate of trade protectionism. He started a major trade war with China and, to a lesser extent, with other countries, including India. One of his first decisions after taking charge in 2016 was pulling the US out of what could have been the world s largest free trade agreement, the Trans Pacific Partnership, which represented 40