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India implemented several measures to facilitate trade during 2015-20: WTO

07 Jan 2021 Evaluate

Geneva-based World Trade Organisation (WTO) has said that during the period 2015-20, India has implemented several measures to facilitate trade, such as a reduction in the number of documents required and the automation of the customs clearance system for imports and exports. It noted that the other trade-facilitation initiatives introduced by India since 2015 include introduction of Indian Customs Electronic Gateway (ICEGATE); Single Window Interface for Facilitation of Trade (SWIFT); the Direct Port Delivery and the Direct Port Entry facilities; and the increased use of the Risk Management System (RMS).

WTO has stated that India's trade policy remained largely unchanged since the previous review. It said the country continues to rely on trade policy instruments such as the tariff, export taxes, minimum import prices, import and export restrictions, and licensing. It pointed out that these are used to manage domestic demand and supply requirements, protect the economy from wide domestic price fluctuations, and ensure conservation and proper utilization of natural resources.

As a result, it said frequent changes are made to tariff rates and other trade policy instruments, which creates uncertainty for traders. To support both domestic production and exports, it said India continues to provide a number of incentives, in the form of direct subsidies and price support schemes, tariff concessions or exemptions, or preferential rates of interest.  

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