The International Semiconductor Consortium (ISMC) has asked India to reconsider its plan to promote tariffs on cross-border digital e-commerce and data transfer at the upcoming World Trade Organization (WTO) meeting. ISMC warned that Delhi’s location could hamper the development of the industry. This was reported by Reuters.
The WTO meeting will take place in Abu Dhabi early next week. One of the issues on the agenda is the extension of the moratorium on the imposition of taxes on electronic data transfer (in force since 1998).
Developing countries, including India, South Africa and Indonesia, intend to resist US and European attempts to extend the moratorium. The agreement expires in 2024. ISMC is confident that rejecting the moratorium will lead to increased costs and worsening chip shortages.
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