Question : On which date India’s seventh Trade Policy Review (TPR) began ?
(a) 7 January 2021
(b) 4 January 2021
(c) 5 January 2021
(d) 2 January 2021
Answer (a)
Related facts
- India’s seventh Trade Policy Review (TPR) began on 6th January 2021, at the World Trade Organization in Geneva.
- The TPR is an important mechanism under the WTO’s monitoring function, and involves a comprehensive peer-review of the Member’s national trade policies. India’s last TPR took place in 2015.
- Commerce Secretary, Dr. Anup Wadhawan(India’s official delegation for the TPR) emphasized that in the last 5 years, since India’s previous TPR, the Government 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 Goods and Services Tax, the Insolvency and Bankruptcy Code, path-breaking reforms in the labour sector, an enabling and investor friendly FDI Policy, and various national programmes like Make in India, Digital India, Startup India and Skill India to bring about rapid transformation across sectors in our manufacturing environment, were emphasized in this regard.
- A comprehensive Report issued by the WTO Secretariat on the occasion, chronicling 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.
- India’s effort is commendable for its timely and comprehensive responses to more than 700 questions received from WTO members ahead of its TPR.
- Many reforms have increased the efficiency and inclusiveness of the Indian economy and India emerged as 5th largest economy in 2019.
By — Pankaj Pandey.
Link:
https://www.pib.gov.in/PressReleseDetailm.aspx?PRID=1686692