Indian Economy News

India Concludes Eighth WTO Trade Policy Review Successfully

India successfully concluded its Eighth Trade Policy Review (TPR) at the World Trade Organization (WTO) in Geneva, reaffirming its commitment to an open, transparent, predictable and WTO-consistent trade and investment regime. Leading the Indian delegation, Commerce Secretary Mr. Rajesh Agrawal highlighted that ongoing tariff reforms, customs simplification measures and an ambitious Free Trade Agreement (FTA) strategy have strengthened India's integration with the global economy while supporting domestic development priorities. He reiterated that India's trade policies remain aligned with WTO principles while addressing the developmental needs of a large developing economy through measures that safeguard small farmers, strengthen domestic manufacturing and enhance supply chain resilience. The review underscored India's role as a major engine of global demand and its continued commitment to promoting a rules-based multilateral trading system.

The review witnessed significant global participation, with 68 WTO Members making interventions across two sessions and 44 Members submitting 1,094 written questions, reflecting growing international interest in India's economic transformation and expanding global trade role. Members appreciated India's progress in Digital Public Infrastructure, customs modernisation, trade facilitation, innovation, startup development, regional trade agreements and the integration of Micro, Small and Medium Enterprises (MSMEs) into global value chains, while also welcoming India's acceptance of the WTO Agreement on Fisheries Subsidies. India further reaffirmed its commitment to sustainable development, women's economic empowerment, intellectual property reforms, logistics modernisation and investment facilitation. Emphasising the philosophy of "Vasudhaiva Kutumbakam", the Government reiterated its commitment to constructive dialogue and cooperation to strengthen a transparent, inclusive and resilient multilateral trading system that promotes shared prosperity and sustainable global growth.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.