Ritam Digital English
  • Home
  • Nation
  • World
  • Videos
    • Special Updates
    • Entertainment
    • Legal
    • Business
    • History
    • Viral Videos
  • Politics
  • Business
  • Lifestyle
    • Entertainment
    • Health
    • Food
    • Fashion
    • Viral
  • Sports
  • Opinion
No Result
View All Result
Ritam Digital English
  • Home
  • Nation
  • World
  • Videos
    • Special Updates
    • Entertainment
    • Legal
    • Business
    • History
    • Viral Videos
  • Politics
  • Business
  • Lifestyle
    • Entertainment
    • Health
    • Food
    • Fashion
    • Viral
  • Sports
  • Opinion
No Result
View All Result
Ritam Digital English
No Result
View All Result
  • Home
  • Nation
  • World
  • Videos
  • Politics
  • Business
  • Entertainment
  • Lifestyle
  • Sci & Tech
  • Sports
  • Opinion
Home Business

Bharat’s WTO Intervention Highlights Concerns Over Unilateral Protectionist Measures

Bharat Voices Concerns Over Trade Protectionism in WTO Meeting

Editor Ritam English by Editor Ritam English
Feb 27, 2024, 06:18 am IST
Bharat's WTO Intervention Highlights Concerns Over Unilateral Protectionist Measures

Bharat's WTO Intervention Highlights Concerns Over Unilateral Protectionist Measures

FacebookTwitterWhatsAppTelegram

In a recent meeting held at the World Trade Organization (WTO) in Abu Dhabi, Bharat raised serious concerns regarding the growing trend of trade protectionism, especially under the guise of environmental protection by certain countries. The country emphasized the need for flexibility in existing WTO agreements to address the constraints faced by developing nations in their industrialization efforts. Commerce Secretary Sunil Barthwal highlighted the challenges posed by the European Union’s (EU) decision to impose a carbon tax on sectors like steel and fertilizers, as well as the adoption of deforestation regulations. These measures could adversely affect Bharat’s exports, particularly in sectors like iron, steel, and aluminum, which have a significant share in its trade with the EU.

The Carbon Border Adjustment Mechanism (CBAM), slated to be implemented by the EU from January 1, 2026, poses a substantial concern for Bharat. This mechanism, effectively a carbon tax, will impose a 20-35% tax on select imports into the EU, affecting key sectors like steel, cement, fertilizers, and hydrocarbon products. Given that Bharat’s exports of iron ore pellets, iron, steel, and aluminum products to the EU accounted for $7.4 billion in 2023, the CBAM could significantly impact its trade interests in the region.

Furthermore, Bharat expressed apprehension regarding the blending of longstanding development issues with new trade and industrial policies by developed countries. Secretary Barthwal cautioned against mixing non-trade topics such as gender and MSMEs (Micro, Small, and Medium Enterprises) with WTO rules, suggesting that such issues are better addressed through targeted national measures rather than international trade regulations. He also highlighted the risk of greater trade fragmentation resulting from the inclusion of non-trade issues in WTO discussions.

The adoption of deforestation regulations by the EU in May 2023 further compounds Bharat’s concerns, particularly affecting its exports of products like coffee, leather hides, and paperboard, valued at $1.3 billion annually to the European Union. Bharat sees these unilateral measures and the erection of non-trade barriers by developed countries as detrimental to the trade interests of developing nations.

Bharat’s participation in the 13th ministerial conference of the WTO underscores its commitment to addressing these pressing issues on the global trade agenda. The country advocates for a balanced approach that safeguards the interests of all member states while promoting sustainable development and inclusivity in international trade relations. As discussions continue within the WTO framework, Bharat remains vigilant in protecting its trade interests and ensuring a fair and equitable global trading system.

Tags: World Trade OrganizationWTOWTO Meeting
ShareTweetSendShare

Related News

Is the WTO Rigged Against India? How New Trade Rules Are Being Challenged by Emerging Powers
Nation

Is the WTO Rigged Against India? How New Trade Rules Are Being Challenged by Emerging Powers

Why Is Gold So Expensive on Akshaya Tritiya 2025? Mythology, Markets, and the Truth Behind the Rs 97,000 Price Tag
Nation

Why Is Gold So Expensive on Akshaya Tritiya 2025? Mythology, Markets, and the Truth Behind the Rs 97,000 Price Tag

Is India the World’s New Economic Safe Haven? Stock Market Bounces Back Faster Than Any Other Country
Nation

Is India the World’s New Economic Safe Haven? Stock Market Bounces Back Faster Than Any Other Country

Fugitive Businessman Mehul Choksi Arrested in Belgium: A Look at India’s Biggest Bank Frauds
Nation

Fugitive Businessman Mehul Choksi Arrested in Belgium: A Look at India’s Biggest Bank Frauds

Is the US-China Trade War About to Crash the Global Economy? Tariffs Soar- 125% and 151%, Here’s What You Need to Know
World

Is the US-China Trade War About to Crash the Global Economy? Tariffs Soar- 125% and 151%, Here’s What You Need to Know

Comments

The comments posted here/below/in the given space are not on behalf of Ritam Digital Media Foundation. The person posting the comment will be in sole ownership of its responsibility. According to the central government's IT rules, obscene or offensive statement made against a person, religion, community or nation is a punishable offense, and legal action would be taken against people who indulge in such activities.

Latest News

How Did a Grieving Widow Outsmart Maratha Generals to Rule a Kingdom? The Untold True Story of Ahilyabai Holkar!

How Did a Grieving Widow Outsmart Maratha Generals to Rule a Kingdom? The Untold True Story of Ahilyabai Holkar!

Why Was a Hindu Priest Forced Off an Elephant? Is Tamil Nadu Seeing a Repeat of the 1982 Temple Clashes?

Why Was a Hindu Priest Forced Off an Elephant? Is Tamil Nadu Seeing a Repeat of the 1982 Temple Clashes?

20 Unsung Heroes Honored with Padma Awards in 2025 (PC: TDTY)

Real Heroes of India: Padma Awards 2025 Celebrate 20 Unsung Champions

Muslims abused for following HinduRituals (PC: TDTY)

Faith Under Fire: Muslim Celebrities Trolled for Embracing Hindu Traditions

Is Bihar Museum India’s Most Advanced Cultural Marvel? Discover How It Forms Ancient Glory with Original Sustainability

Is Bihar Museum India’s Most Advanced Cultural Marvel? Discover How It Forms Ancient Glory with Original Sustainability

Swadeshi Wave Sweeps India (PC: The Daily Guardian)

From Ganpati Idols To Microchips: India’s Swadeshi Revolution Gains Momentum

Derogatory and vulgar comments against IndianwomenbyPakistani People (PC: TDTY)

How Shameful Can Pakistan Be: Series of Vulgar Attacks on Indian Women (2023 to 2025) By Pakistani People

Security Forces in Chhattisgarh (PC: Hindustan Times)

From Guns to Surrender: Over 200 Naxals Eliminated in 2024 as Top Commanders Fall Across States

National/Criminal Conspiracies From Madrassas (PC: The Hindu)

Madrasa Network Exposed: A Decade of Anti-National Plots (2016–2025)

Non-Muslim girls sexually abusedbyMuslim Gym Trainers (PC: AI)

25 Alarming Cases of Deception And Abuse Targeting Non-Muslim Girls Across India

  • Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer

© Ritam Digital Media Foundation.
Tech-enabled by Ananthapuri Technologies

No Result
View All Result
  • Home
  • Nation
  • World
  • Videos
  • Politics
  • Business
  • Entertainment
  • Lifestyle
  • Sci & Tech
  • Sports
  • Opinion
  • About & Policies
    • About Us
    • Contact Us
    • Privacy Policy
    • Terms & Conditions
    • Disclaimer

© Ritam Digital Media Foundation.
Tech-enabled by Ananthapuri Technologies