Players hit by sluggish exports & rising imports from Bangladesh and Lanka, one-third of production capacity lying idle.
The decision was automatic upon the complainants' second request at a closed-door meeting of the WTO's Dispute Settlement Body.
Exports had slumped 9.71% in June on the back of intensifying trade tensions between the US and China.
The government has offered flurry of incentives this year to boost exports amid sugar glut which included transport subsidies.
India’s exports are expected to face the brunt of currency devaluation across major economies.
The Indian Rice Exporters Association is hoping the commerce ministry will take up the issue at the forthcoming RCEP ministerial meeting to be held in Beijing on August 2-3.
EEPC remains cautioned as the trend would become clear only in the next few months, the engineering body said in a statement.
As per the report, over the 2008-2018 period, China, Vietnam and India were the most dynamic traders among all Asian economies.
The bank has suggested the Export Refinance Scheme to be reintroduced by the Reserve Bank of India in INR and foreign currency.
Lower shipments from India will help rivals such as Vietnam and Myanmar in raising their exports, according to Indian exporters.
In developing nations various SMES and MSMEs contribute to the commerce by bringing global technology and logistical efficiency aiding the businesses in totality.
The platform boasts of helping businesses experience a range of services digitally including payments of funds through multiple digital modes and undertaking largely all of the export-import transactions.
“India's bilateral relations with Iran, and the US stand on their own merit and are not influenced by relations between other countries,”Puri said.
There is a lull in demand in overseas as well as domestic markets, said Colin Shah.
Exports contract for first time in 9 months in June as US-China tariff war affects shipments.
Compared sequentially, the services exports during the month were up by 3.4 per cent from $18.06 billion in April 2019.
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