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Economy 1 min read

India Invokes WTO Peace Clause for the 7th Time over $7.6 Billion Rice Subsidies

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India has invoked the World Trade Organization's peace clause for the seventh time, reporting rice subsidies of $7.6 billion. The clause was agreed at the WTO Ministerial Conference in Bali in 2013 as an interim arrangement. It lets developing countries support public stockholding programmes for food security and shields such subsidies from challenge in WTO dispute settlement even when limits are exceeded. These subsidies are linked to government procurement of crops at Minimum Support Price, and the clause will apply until a permanent solution on food security is agreed at the WTO.