India Dismisses The Immediate Impact Of WTO Panel Ruling On IT Tariffs

India has ruled out any immediate effect from the World Trade Organization (WTO) panel ruling that the country breached global trading regulations by imposing tariffs on certain IT products, the Indian government stated in a statement on Tuesday.

"As per the available Dispute Settlement procedures, India is taking the necessary steps, and is also exploring options available in light of its WTO rights and obligations," the government said.

As per a report by Reuters, there are possibilities that India might appeal against the recent ruling. The ruling was given by the WTO panel last week in regards to a dispute with the European Union, Japan, and Taiwan that originated in 2019 concerning import tariffs on IT products.

In 2019, the European Union (EU) challenged India's imposition of import duties ranging from 7.5% to 20% on various IT products, including mobile phones, components, and integrated circuits, arguing that they surpassed the allowable limit. Japan and Taiwan also registered comparable grievances during the same period.