India opposes advance notification to WTO on food export restrictions

Advance notification undermines intent of imposing restrictions

by Arjit Singh Bhambra

India has opposed a proposal requiring countries to notify any restriction on exports of food products in advance to WTO, as per a report in Economic Times. According to a government official, such advance notification undermines the very purpose of imposing export restrictions and is not practical. The proposal was made by Singapore ahead of the crucial WTO ministerial meeting from 10-13 December in Buenos Aires. Countries like Japan and Israel have demanded an advance notice of 30 days along with reasons for imposing export restraints. In an attempt to discourage exports and augment domestic availability, India has imposed minimum export price on essential commodities like onion, wheat, rice, potato and edible oils in the past. The WTO explicitly prohibits countries from using export restrictions. However, under extremely limited circumstances, the countries are allowed to use such quantitative measures temporarily for essential commodities only.

References
1. https://economictimes.indiatimes.com/news/economy/foreign-trade/india-opposes-call-for-advance-notice-to-wto-on-food-export-restrictions/articleshow/61954963.cms
CMIE STATISTICS
Unemployment Rate
Per cent
4.6 -0.0
Consumer Sentiments Index
Base September-December 2015
96.3 +0.7
Consumer Expectations Index
Base September-December 2015
95.7 +0.9
Current Economic Conditions Index
Base September-December 2015
97.3 +0.5
Quarterly CapeEx Aggregates
(Rs.trillion) Dec 16 Mar 17 Jun 17 Sep 17
New projects 2.33 3.83 2.07 1.03
Completed projects 1.01 1.94 1.16 1.00
Stalled projects 1.14 0.73 2.67 0.67
Revived projects 0.18 0.67 0.30 0.29
Implementation stalled projects 0.83 0.33 0.68 0.62
Updated on: 15 Dec 2017 8:20PM
Quarterly Financials of Listed Companies
(% change) Dec 16 Mar 17 Jun 17 Sep 17
All listed Companies
 Income 6.2 10.2 9.8 8.2
 Expenses 6.3 11.9 10.0 9.4
 Net profit 40.2 16.0 -19.6 -18.1
 PAT margin (%) 6.0 6.0 5.3 5.6
 Count of Cos. 4,509 4,444 4,325 4,156
Non-financial Companies
 Income 5.9 11.8 10.4 8.1
 Expenses 7.2 15.6 10.6 8.0
 Net profit 24.5 -2.3 -25.0 -5.4
 PAT margin (%) 6.2 6.2 5.2 6.4
 Net fixed assets 6.9 9.3
 Current assets 2.7 80.1
 Current liabilities 8.8 10.2
 Borrowings 4.8 10.5
 Reserves & surplus 6.3 5.3
 Count of Cos. 3,484 3,440 3,358 3,226
Numbers are net of P&E
Updated on: 15 Dec 2017 8:20PM
Annual Financials of All Companies
(% change) FY14 FY15 FY16 FY17
All Companies
 Income 10.0 5.2 1.1 6.7
 Expenses 9.9 5.2 1.2 6.9
 Net profit -2.3 1.4 -13.1 20.6
 PAT margin (%) 3.2 3.2 2.9 6.4
 Assets 12.3 9.4 9.7 8.6
 Net worth 9.6 8.7 10.6 7.9
 RONW (%) 6.2 6.1 5.1 9.2
 Count of Cos. 24,045 23,818 20,791 4,756
Non-financial Companies
 Income 9.7 4.3 0.1 6.7
 Expenses 9.3 4.5 -0.6 7.5
 Net profit -2.7 -5.8 11.6 14.6
 PAT margin (%) 2.2 2.1 2.6 6.3
 Net fixed assets 11.6 13.3 15.5 7.3
 Net worth 8.1 7.1 11.0 6.3
 RONW (%) 5.1 4.9 5.4 10.3
 Debt / Equity (times) 1.1 1.1 1.1 0.7
 Interest cover (times) 2.0 1.9 2.0 3.4
 Net working capital cycle (days) 69 67 66 49
 Count of Cos. 19,288 19,270 17,281 3,624
Numbers are net of P&E
Updated on: 04 Dec 2017 11:59AM

Data added for HPI at Assessment prices and HPI at Market prices