• UGI USER
  • Feb 26, 2024
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INDIA’S STANCE ON DATA TRANSFERS AT WTO SPOOKS SEMICONDUCTOR INDUSTRY GIANTS:

Why in the news?

A global consortium of semiconductor industry groups urging India to reconsider its stance on imposing duties on cross-border digital e-commerce and data transfers.

About Concerns Raised by Semiconductor Industry Giants:

  • Global semiconductor industry groups are urging India to reassess its proposal to levy duties on cross-border digital e-commerce and data transfers.
  • They caution against the potential stifling effect on India’s chip design industry if the proposed stance is implemented.
About World Trade Organization (WTO)

●   Established in 1995 to replace GATT, focusing on global trade regulation.

●   Headquarters situated in Geneva, Switzerland.

●   Comprises 164 member nations, including founding member India.

●   Roberto Azevedo currently serves as Director-General.

●   Upcoming WTO Meeting is  in Abu Dhabi.

Objectives:

●   Formulates and enforces international trade rules.

●   Facilitates trade liberalization negotiations and monitoring.

●   Provides dispute settlement mechanisms.