Home Economic Times india: India invokes peace clause for third time as rice subsidies exceed cap

india: India invokes peace clause for third time as rice subsidies exceed cap

india: India invokes peace clause for third time as rice subsidies exceed cap

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India has for the third time invoked the peace clause for exceeding the ten% ceiling on assist it provided its rice farmers. The nation knowledgeable the WTO that the worth of its rice manufacturing in 2020-21 was $45.56 billion whereas it gave subsidies price $6.9 billion, which comes out to fifteen.14% as in opposition to the permitted 10%.

The peace clause protects India’s food procurement programmes in opposition to motion from WTO members in case the subsidy ceilings are breached.

New Delhi had first invoked the clause in 2020 when it turned the primary nation to take action.

New Delhi instructed the WTO on Friday the shares beneath the programme are acquired and launched to satisfy the home meals safety wants of India’s poor and weak inhabitants, and to not impede business commerce or meals safety of others.

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