India’s seventh Trade Policy Review (TPR) at WTO

India’s seventh Trade Policy Review (TPR) began on 6th January 2021, at the World Trade Organization in Geneva.  India’s last TPR took place in 2015.

• ​A comprehensive Report issued by the WTO Secretariat on all major trade and economic initiatives that India took over the last five years, acknowledged India’s strong economic growth at 7.4% during the period under review and made a positive note of India’s reform efforts during this period.
• The Report noted that strong economic growth led to an improvement in socio-economic indicators, such as per-capita income and life expectancy in India.
• The Secretariat report also commended India for liberalizing its FDI policy.

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About World Trade Organization (WTO)
World Trade Organization (WTO) is an intergovernmental organization that regulates international trade.​WTO is the only global international organization dealing with the rules of trade between nations. WTO headquarter in Geneva, Switzerland. The World Trade Organization came into being in 1995. One of the youngest of the international organizations, the WTO is the successor to the General Agreement on Tariffs and Trade (GATT) established in the wake of the Second World War.

About WTO Trade Policy Review Mechanism (TPRM)
The Trade Policy Review (TPR) is an important mechanism under the WTO’s monitoring function, and involves a comprehensive peer-review of the Member’s national trade policies. The reviews take place in the Trade Policy Review Body which is actually the WTO General Council — comprising the WTO’s full membership — operating under special rules and procedures. 
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Sources : PIB