India, International Trade & WTO
India has seen phenomenonal changes in its economic
and the legal framework. Its membership of the WTO,
and Agreements like TRIPs, GATT, GATS etc. have brought
about significant changes in trade laws in India.
Product Patent has been introduced with significant
impact on the pharmaceutical sector and a number of
industries and sectors have been opened for foreign
investment. Still India is not fully WTO compliant
and a number of legislative measures are still on
the pipeline to be introduced in India’s legal
framework.
In the midst of such rapid changes, the Indian Judiciary, more often than not, finds itself at the cross-road of diverse interests, faced with the daunting task of interpreting India’s domestic laws in the light of the fast evolving International Legal Standards.
Though International Commercial Law per se does not automatically become a law in India on its own force, it has always had persuasive value on Indian Courts. International Commercial Law in India assumes great importance in (a) International Commercial Litigation, (b) International Commercial Arbitration and (c) Enforcement of Foreign Judgments.
Just as India introduces significant legislative changes, corporate India has also geared up to face the impact of India’s WTO membership and consequent legislative and sectoral changes. Most business houses in India have taken up/are in the process of taking up steps like product specific WTO audits, suggesting appropriate changes to concerned govt. ministries/departments, overhauling technology and product lineup, substantial investment in Research and Development etc.
Even Govt. ministries and departments are in constant engagement with WTO experts, industry specialists and law firms to consider legal and economic implications of WTO requirements and for formulating appropriate laws which would serve the seemingly opposite purposes of addressing the concerns of India’s domestic industry and fulfilling India’s commitment at the WTO. Given its sensitive and potential impact on India’s trading system, WTO compliant changes in India’s trade laws form an important practice area for WTO and International Commercial law experts and law firms in India.
CLG International Commercial Law Practice
- Consultancy Services on all WTO related issues for both Governmental and Non-Governmental sectors
- Representing Clients in WTO related issues - anti-dumping, anti-subsidy, safeguards, countervailing issues etc.
- Product/Service Specific WTO Audit/due Diligence for industrial houses
- Drafting/vetting WTO related documents/representations etc.
- Technical inputs to the Govt. of India during WTO negotiations
- Policy formulation in the context of WTO Agreements and regional trade arrangements/issues for the Government as well as private players
- Negotiating, drafting, vetting contracts and legal documents with ‘International Commercial Law’ perspective
- Legal Advice on transnational commercial issues
- Drafting, vetting International Treaties on behalf of Government of India
- Involvement with National and International Trade bodies in evolving and shaping up India’s policy framework on various International Commercial Agreements & Treaties
CLG’s WTO Practice lawyers have strong background in law and economics, required for trade policy advocacy and consultancy services. CLG has worked on issues relating to non-agricultural market access (NAMA), Govt. procurement and trade with non-market economies, sanitary and phytosanitary measures (SPS), technical barriers to trade (TBT), anti-dumping, rules of origin, customs rules etc.
