India has ratified WTO TFA

Q.  India has ratified the WTO trade facilitation agreement becoming the ____ WTO member to accept the TFA
- Published on 25 Apr 16

a. 75th
b. 76th
c. 77th
d. 78th

ANSWER: 76th
 
It aims at easing customs procedure to increase commerce. Commerce and industry minister Nirmala Sitaraman indicated the move was part of ongoing reforms in India
  • India is the 76th WTO member to accept the TFA
  • The TFA will enter into force once two thirds of the WTO 162 members were formally accepting the agreement
  • Agreement aims at expediting the movement and clearance of goods including goods in transit.
  • Implementation of the TFA has the potential to increase international merchandise exports by close to USD 1 trillion per year according to a WTO report.

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