[ad_1]
India on Thursday pitched for a re-examination of the implications of the customs duties moratorium on e-commerce for developing and least developed member nations of the World Trade Organization (WTO) amid attempts by the developed countries to extend the moratorium beyond March 31.
The issue came up for discussion during a session of a work programme on e-commerce at the WTO’s 13th Ministerial Conference, which entered its last day on Thursday. India is not in favour of extending the moratorium as it is causing tariff revenue losses of an estimated $10 billion to the developing countries every year. For India, the losses could be about $500 million every year. The moratorium can’t be extended in the absence of a consensus decision. Countries can choose not to raise duties on e-commerce transmissions, said officials.
India said this emerging segment of the global economy holds the promise for economic development and prosperity for developing countries, including the least developed countries.
It has stressed that all policy options, including the imposition of customs duties on e-commerce trade, should be available to the WTO members to promote digital industrialisation.
At present, a few firms based in developed countries dominate global landscape of e-commerce.
[ad_2]
Source link
