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The second and final Session of India’s seventh Trade Policy Review (TPR) concluded on 8^thJanuary 2021, at the World Trade Organization in Geneva

Trade Policy Reviews

• Surveillance of national trade policies is a fundamentally important activity running throughout the work of the WTO.
• At the centre of this work is the Trade Policy Review Mechanism (TPRM).
• All WTO members are reviewed, the frequency of each country’s review varying according to its share of world trade.
  

Importance of Trade Policy Reviews

• The TPRM is a valuable tool for the development of trade policies in developing and least developed countries.
• These Members often face challenges in adjusting their domestic policies in compliance with multilateral trade rules, and TPRs can help them self-assess existing measures as well as taking new trade policy-making directions.
  

India’s progress

• Since previous TPR, India has worked diligently to reform and transform the entire economic eco-system to meet the socio-economic aspirations of a billion-plus Indians.
• The introduction of the GST, the IBC, labour sector reforms, an enabling and investor-friendly FDI Policy, and various national programmes like Make in India, Digital India, Startup India and Skill were the path-breakers.

Source: PIB, The Hindu