🚩Domestic content requirements 🚩🚀

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1) Domestic content requirements under India’s National Solar Mission.
2) Corporate tax deductions provided under the SEZ
3) Controversial Section 232 tariffs imposed under the U.S. Trade Expansion Act, 1962. The U.S. had imposed an additional duty of 25% on steel and 10% on aluminium, triggering a series of WTO challenges and unilateral trade responses. 
4) India will remove the additional duties, which were retaliatory in nature, on certain U.S. agricultural imports which had suffered certain collateral damage on account of the Section 232 measures. India will now revert to the currently applied ‘most favoured nation’ (MFN) rate for eight products. In other words, India is only removing the retaliatory duties on these eight products and not offering any preferential concessions on them. The MFN-applied rates would continue to apply to these products.

👉Lesson learnt - A greater use of diplomacy and bilateral negotiations can be more practically useful when adjudicatory outcomes are not immediately available or politically infeasible.

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