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Economy Current Affairs
Economy Current Affairs July 2nd Week 2021
Author : Admin
Category : Economy Current Affairs
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Economy Current Affairs July 2nd Week 2021

Onion Export Ban Dispute at WTO:

 
India has been brought into the World Trade Organization by Japan and the United States due to periodic bans on onion exports. The surprise export embargo, according to both governments, presents complications for importing countries. Onion growers in India have also urged that, rather than making ad hoc judgments, the government adopt a comprehensive strategy on onion import and export.
 
Highlights:
♦ Reduce demand-supply imbalances in the domestic market to help exports.
♦ Onion growers have incurred enormous losses as a result of the unpredictable prohibition on onion exports.
♦ With nations like Bangladesh, the ban on onion exports is causing friction in bilateral trade relations.
♦ Pakistan has begun to compete with India for a piece of the Gulf onion market in recent years.


 

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