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The second and final session of India's Eighth Trade Policy Review (TPR) concluded at the World Trade Organization (WTO) in Geneva.
The review acts as a transparency mechanism where members' trade policies are periodically examined.
68 WTO Members participated, appreciating India's economic resilience, Digital Public Infrastructure, and acceptance of the WTO Agreement on Fisheries Subsidies.
To examine the trade and related policies of member countries at regular intervals.
Key: Ensures adherence to WTO rules and commitments.
Global international organization dealing with the rules of trade between nations.
GS Paper 2 > Important International Institutions (WTO)
Among the following, which one is the largest exporter of rice in the world in the last five years?
Answer: India
Consider the following statements: Statement-I: India accounts for 3.2% of global export of goods. Statement-II: Many local companies and some foreign companies operating in India have taken advantage of India's 'Production-linked Incentive' scheme. Which one of the following is correct in respect of the above statements?
Answer: Statement-I is incorrect but Statement-II is correct
A key transparency mechanism of the WTO under which Members' trade policies are periodically examined to strengthen adherence to WTO rules.
A principle in anti-dumping investigations where the duty imposed is the lesser of the dumping margin or the injury margin.