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EconomyPIB21 July 2026
India Reaffirms Commitment to Rules-Based Multilateral Trading System at WTO Trade Policy Review in Geneva
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📌 Summary:
- India's 8th WTO Trade Policy Review (TPR) began in Geneva; Commerce Secretary Rajesh Agarwal led the delegation; review period 1 Jan 2021–31 Dec 2025 (sessions on 21 & 23 July)
- India reaffirmed commitment to a transparent, rules-based, inclusive, development-oriented multilateral trading system
- India recorded ~8% average annual growth during the review period; exports hit a record USD 863.1 billion in 2025-26
- 65 WTO members participated; reforms highlighted: Jan Vishwas Initiative, digital customs, logistics modernisation, Digital Public Infrastructure, AI, expanding regional trade agreements, ITEC and South-South Cooperation
- India accepted the WTO Agreement on Fisheries Subsidies (deposited its Instrument of Acceptance)
- Brazil (discussant) praised GST for unifying the national market and India's Duty-Free Tariff Preference Scheme for LDCs
🎯 UPSC Relevance: GS2 IR (India & global groupings, WTO) and GS3 economy (trade policy, Aatmanirbhar Bharat, export strategy)
📝 Prelims Facts:
- TPR is conducted under the WTO's Trade Policy Review Mechanism
- India's exports reached USD 863.1 billion in 2025-26
- India accepted the WTO Agreement on Fisheries Subsidies
- ITEC = Indian Technical and Economic Cooperation Programme
🔑 Key Term: Trade Policy Review Mechanism — WTO's periodic peer review of each member's trade and related policies to enhance transparency
WTOTrade Policy ReviewexportsFisheries Subsidies
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