India Demands Compensation from Turkiye Over Trade Safeguard Dispute

India is seeking compensation from Turkiye following Ankara's decision to extend safeguard measures on polyester staple fibres, affecting Indian exports. The move has prompted India to propose retaliatory customs duties if consultations under the WTO agreement don't resolve the issue.

India is pressing for compensation from Turkiye after the latter extended safeguard measures on polyester staple fibres, adversely affecting Indian exports, as per a government official. The issue was highlighted in recent bilateral consultations under the WTO's safeguard agreement.

Following Ankara's measure extension on October 14, India engaged in discussions with Turkiye, exploring options like retaliatory customs duties, should an amicable resolution not be found. Last fiscal year, India exported fibres worth USD 22.18 million to Turkiye.

Known for its proactive trade remedies, India has previously proposed duties on EU and UK imports following similar safeguard disputes. The South Asian nation emphasizes consultations with trading partners whenever its trade interests are challenged.

(With inputs from agencies.)