Report by the Secretariat (WT/TPR/S/249): III. Trade Policies and Practices by Measure (4) Measures Affecting Production and Trade (iv)Price Controls
Paragraph 215 states that "[t]he Government closely monitors the price of certain hydrocarbons. In case of high price volatility in the international market, the Government will intervene to stabilize prices."
Question: Can India elaborate on the circumstances under which it will intervene to stabilize prices? Does India consider such circumstances to constitute a "particular market situation" under the SCM Agreement?
Reply: Government has been monitoring the prices of administered petroleum products viz. diesel, PDS kerosene and domestic LPG. It has been decided to stagger de administering the prices of diesel to minimize the overall impact on poor and vulnerable segment of the population. The prices of PDS kerosene and domestic LPG are administered since these are essential for cooking and lighting purposes.
India does not consider that stabilization of prices in this case would constitute "particular market situation". Moreover, we could not find reference to "particular market situation" similar to Anti dumping Agreement in the ASCM.
