India Reconsiders Stance on E-Commerce Tariffs Moratorium

India is reportedly reconsidering its opposition to the continuation of a global moratorium on tariffs for electronic transmissions, including digital downloads and streaming. According to senior diplomats, India may agree to extend the agreement for two years, marking a shift ahead of a key World Trade Organization (WTO) meeting.

Commerce Minister Piyush Goyal expressed doubts about the U.S. push for a permanent extension, but new diplomatic insights indicate a potential compromise. However, the U.S. remains firm in seeking a permanent solution, posing a challenge for negotiations. Business leaders stress the importance of extending the moratorium to maintain market predictability.

Diplomatic sources reveal that U.S. and Indian positions diverge significantly on the matter. Some WTO members propose a middle ground, suggesting an extension between five to ten years. This meeting in Yaounde is seen as pivotal for the WTO's credibility amidst global trade tensions and economic uncertainty.

(With inputs from agencies.)