The European Union lodged a formal complaint at the World Trade Organisation on Monday pertaining to nearly 30 anti-dumping taxes imposed by India on European imports.
According to an EU statement, the move comes “after growing frustration amid EU exporters not only at the escalation in the number of measures imposed by India, which has now become the world's largest user of anti-dumping practices, but also at the very low standards applied."
The dispute relates to duties placed mainly on imports of chemicals, steel, pharmaceuticals and textiles, and the EU contends that India has failed to abide by WTO rules to correctly determine whether goods are being dumped. The EU claims that its exporters have lost more than 50 million euros in business as a result of the tariffs.
WTO procedure now dictates that the two parties have 60 days in which to come to a mutually signed agreement. Failure to do so would allow the EU to seek a legal ruling from the trade body.
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