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New Delhi informed Washington that it shall take no more than the stipulated time of 15 months to change its legislation in line with the WTO ruling on hot-rolled steel disputes.

Indian companies such as Jindal, Tata Steel and Essar that had stopped their export to the US due to hefty steel penalties, in some cases as high as 577 per cent, are likely to be the biggest beneficiary of the WTO verdict.

Late last year, the WTO had ruled against the imposition of the countervailing duties on hot-rolled steel products from India. The WTO ruled in India’s favour stating that the US practice of culmination while calculating the injury suffered was faulty.

Further on the appeal, it was also ruled that National Mineral Development Corporation, cannot be categorised as a public body as it did not have government authority or discharged governmental function.


The gLAWcal Team

Friday, 06 March 2015

(Source: Economic Times)

This news has been realized by gLAWcal—Global Law Initiatives for Sustainable Development in collaboration with the University Institute of European Studies (IUSE) in Turin, Italy and the University of Piemonte Orientale, Novara, Italy which are both beneficiaries of the European Union Research Executive Agency IRSES Project “Liberalism in Between Europe And China” (LIBEAC) coordinated by Aix-Marseille University (CEPERC). This work has been realized in the framework of Workpackages 4, coordinated by University Institute of European Studies (IUSE) in Turin, Italy.