India and EU work towards mutually agreeable solution on ICT tariffs

India and the European Union (EU) are seeking a mutually acceptable solution to the conflict over tariffs on information and communications technology (ICT) products implemented by India, according to a report by Business Standard. Meetings between Indian and European officials will occur as early as Friday. In April, the World Trade Organization (WTO) ruled that India had breached its zero-tariff obligation under the Information Technology Agreement dictated by the multilateral trade body. The European Union, Japan, and Chinese Taipei raised three similar yet separate disputes. Before appealing against the verdict, the EU wants a specific type of collaboration on the IT tariffs imposed on the degree of hurt caused and a way to correct the issue. India maintains that its IT tariffs are not high and safeguard the domestic industry from low-priced Chinese imports. The EU argues that India’s levy on technology exports to India amounted to up to €600m ($727m) annually. Both parties will examine a joint adjournment if talks fall short.