India ratifies WTO’s trade facilitation agreement
NEW DELHI: India says it has formally ratified the WTO’s trade facilitation agreement, which aims at easing customs procedures to boost commerce.
Commerce and Industry Minister Nirmala Sitharaman said in Geneva last night that the move will supplement India’s ongoing reforms to bring in simplification and enhanced transparency in cross border trade in goods.
India’s WTO ambassador Anjali Prasad has handed over the instrument of acceptance to WTO Director-General Roberto Azevêdo.The Director General said that India is one of the most dynamic economies in the world on Sunday and has become a top recipient of foreign investment.
He said, ratifying the WTO’s Trade Facilitation Agreement (TFA) will help India further boost economic growth by reducing trade costs and supporting its integration into the global economy.
