India is studying the import restrictions imposed by Argentina and its impact on bilateral trade.
“That (Argentina's import restrictions) is being taken up. We have to see the actual version of their (reported) ‘restrictions' to determine what action should be taken,” the Commerce Secretary, Dr Rahul Khullar, said.
Meanwhile, Mr M.Rafeeque Ahmed, President, Federation of Indian Export Organisations (FIEO), said that growing protectionism in different countries will further affect global trade and India's exports.
He said “Argentina has already put all imports under licensing regime and this kind of non-tariff measure will soon spread to other Latin American countries, thereby jeopardising our exports.”
India's exports to Argentina in 2010-11 were $398.2 million, while imports from that country were $1 billion during that period.
POULTRY BAN
On the issue of US asking for consultations with India according to the dispute settlement norms of the World Trade Organisation over New Delhi prohibiting American poultry products imports, Dr Khullar said the Department of Animal Husbandry will explain to its American counterpart the reasons for the ban.
He said the ban was on concerns of avian influenza. On the US allegations that India's ban did not conform to international standards on avian influenza control, Dr Khullar said, “Allegations are allegations, Let the consultations take place.”
DELEGATION TO IRAN
On the Indian trade delegation going to Iran to boost ties despite US pressure to isolate that country, Dr Khullar said it was only to find ways to settle India's huge import bill.
The bilateral trade balance is heavily tilted in Iran's favour. Oil imports from Iran were $9.4 billion in 2010-11 and $3.1 billion during April-June 2011. However, total exports from India to Iran were only $2.7 billion in 2010-11 and $591 million during April-June 2011.
“We have a large import bill to pay to Iran as we depend on them for oil. We have to find some way to pay for our debts. All we are trying to do is settling our bills,” he said.