Ministers from across the globe are convening for a World Trade Organization meeting in Abu Dhabi early next week to try to discuss several trade-related issues, including extending a moratorium in place since 1998 on applying duties on electronic transmissions.
Developing nations like India, South Africa and Indonesia are set to oppose efforts by U.S. and Europe to extend the moratorium.
WSC comprises of chip industry associations in regions like the U.S. and China, which represent chip stalwarts such as Qualcomm, Intel, AMD and Nvidia.
New Delhi has said that physical goods like books and videos, once governed by traditional tariff rules, were now available as digital services and should be subject to duties. Developing nations are facing massive loss in potential revenue with such imports from developed countries on the rise, India maintains.
WSC in its letter also urged India to work toward a WTO agreement to permanently prohibit countries from subjecting cross-border data and digital tools to customs duties and procedures.
I go by two principles:
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If the US/West supports it, then it’s probably a bad thing.
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Is American/Western companies support it, then it’s probably a bad thing.
Modi and his BJP are Hindutva fascists - but maybe they’re right on this issue. Who knows. All I know is that if the West is supporting something, then it probably stands to reason that it’s bad.
Not everything. Not on all issues. But generally.
It’s a good rule of thumb. Basically, India wants to have their own domestic industry which is obviously good for India in the long run.
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