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Question

Read the below passage and attempt the following questions (Q no 5 to 8). India is close to resolving its most contentious trade dispute, involving information communications technology (ICT) products, with its second largest trade partner, the European Union (EU), a senior government official said. This comes on the heels of India settling all seven trade disputes at the World Trade Organization (WTO) with its largest trade partner, the US. Brussels had dragged New Delhi to the WTO’s dispute settlement mechanism in 2019 challenging its levying of import duty on a wide range of ICT products including mobile phones and components, base stations, integrated circuits and optical instruments claiming that the duty was inconsistent with global trade norms and was hurting €600 million worth of its tech exports to India. The dispute assumes significance as it was feared to affect India’s efforts to boost electronic products manufacturing — a strategic sector in which India is trying to cut its reliance on China. An adverse final ruling could have also meant disruption of the flagship production-led incentive (PLI) scheme due to the rolling back of duties.

Which of the following Development Round of WTO was held in 2001?

A Geneva Round Correct Answer Incorrect Answer
B Annecy Round Correct Answer Incorrect Answer
C Geneva Round Correct Answer Incorrect Answer
D Doha Round Correct Answer Incorrect Answer
E Dillion round Correct Answer Incorrect Answer

Solution

Geneva Round (April 1947) – GATT was signed. Annecy Round (April 1949) – Tariff Concessions discussed. Torquay Round (September 1950) – Cut in tariff levels. Geneva II Round (January 1956) – Japan was admitted and tariff reductions. Dillion round (September 1960) – Tariff Concessions. Kennedy Round (May 1964) – Tariff Concessions and Anti-Dumping covered. Tokyo Round (September 1973) – Tariff, Non-Tariff measures discussed. Uruguay Round (September 1986) – WTO was created, tariffs and agricultural subsidies were reduced. Doha Round (November 2001)

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