Business & Economy

WTO allows India to penalise US

What is India News Service, Saturday, 27 November 2004, 1700 hrs IST


India and several other countries have been allowed by the World Trade Organisation (WTO) to slap sanctions on the US if its protectionist policies went beyond globally-accepted norms.

Besides India, WTO granted authorisation on Friday to the European Union, Japan, Canada, Korea, Mexico and Chile to penalise the US if it failed to repeal the anti-dumping Byrd amendment.

The amendment fines foreign companies that compete 'unfairly' in the US market by selling goods at below cost or fair value or receive subsidies


Norms changed for ethanol-doped petrol: The Government has changed norms for the plan to run automobiles on ethanol-doped petrol due to poor ethanol supply, Petroleum Minister Mani Shankar Aiyar has said.

DoT slaps Rs 150 cr. penalty on Reliance Info: The Department of Telecommunications today imposed a penalty of Rs. 150 crores on Reliance Infocomm for violating licence conditions by routing international calls as local ones.

Centre to offer 20 oil blocks in fifth round: Petroleum Minister Mani Shankar Aiyer today said the Government would offer 20 oil and gas exploration blocks in the fifth round of bidding under the New Exploration Licensing Policy in January 2005.

Centre blames states for fertiliser crisis: Amid reports of severe shortage of DAP fertiliser in Punjab, Haryana and Rajasthan, the Centre has blamed the state governments for the crisis, since in view of the decontrol of DAP and other fertilisers, except urea, the Centre had no control in determining the supply and prices.

India to ink export hike deal with Latin America: India will shortly finalise the annexes to the Preferential Trade Agreement (PTA) signed with Latin American countries in an effort to boost exports.

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