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India has sought arbitration proceedings against Australia under the World Trade Organization rules to settle a case related to the services sector. It says that this may affect India’s trade in the services sector. India has informed the WTO about its request for arbitration in this matter.
New Delhi. India has sought arbitration proceedings against Australia under the World Trade Organization (WTO) rules over the settlement of a case related to the services sector. It says that this may affect India’s trade in the services sector. An official gave this information on Wednesday. India has already informed the World Trade Organization (WTO) regarding its request for arbitration in this matter. Australia had informed the WTO Secretariat on November 17, 2023 about revising its schedule of specific commitments under GATS (General Agreement on Trade in Services) to include additional commitments related to domestic regulation related to services.
GATS is a WTO agreement that came into force in 1995. India has been a member of the Geneva-based organisation since 1995. The WTO is a global trade watchdog and settles trade disputes between member countries. The official said that as an ‘affected member’, India has said that Australia does not meet certain conditions under the required amendments to its specific commitments. The official said, “After this… India and Australia started negotiations with the aim of reaching an agreement. The period for concluding these negotiations was extended to April 19, 2024 by mutual consent. However, no agreement could be reached. In such a situation, India requests arbitration proceedings with Australia in the matter. “WTO disputes can be settled through the arbitration process.
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