Trade Sector Updates – Falling Exports, TIES, MEIS, Foreign Trade Policy, etc.

[pib] India improves score in Ease of Cross-Border Trade

Note4Students

From UPSC perspective, the following things are important :

Prelims level : UNESCAP

Mains level : Ease of Cross-Border Trade

As per the latest UN Global Survey on Digital and Sustainable Trade Facilitation, India’s rank moved up from 78.49% in 2019 to 90.32% in 2021.

About the Survey

  • The Global Survey on Digital and Sustainable Trade Facilitation is conducted every two years by UNESCAP.
  • The 2021 Survey includes an assessment of 58 trade facilitation measures covered by the WTO’s Trade Facilitation Agreement.
  • The Survey is keenly awaited globally as it evidences whether or not the trade facilitation measures being taken have the desired impact and helps draw comparison amongst countries.
  • A higher score for a country also helps businesses in their investment decisions.

Global performance

  • Among developed countries, Australia, New Zealand, Netherlands, Japan, and Belgium have scored more than 93%.
  • In South Asia, Bangladesh and Sri Lanka were behind India with a score of 64.5% and 60.2%, the survey showed.

India’s improvement

  • India has scored 90.32% in United Nation’s Economic and Social Commission for Asia Pacific’s (UNESCAP) latest Global Survey on Digital and Sustainable Trade Facilitation.
  • The Survey hails this as a remarkable jump from 78.49% in 2019.

India’s significant improvement in the scores on all 5 key indicators, as follows:

  1. Transparency:100% in 2021 (from 93.33% in 2019)
  2. Formalities: 95.83% in 2021 (from 87.5% in 2019)
  3. Institutional Arrangement and Cooperation: 88.89% in 2021 (from 66.67% in 2019)
  4. Paperless Trade: 96.3% in 2021 (from 81.48% in 2019)
  5. Cross-Border Paperless Trade: 66.67% in 2021 (from 55.56% in 2019)
  • The Survey notes that India is the best-performing country when compared to the South and southwest Asia region (63.12%) and the Asia Pacific region (65.85%).
  • The overall score of India has also been found to be greater than many OECD countries including France, UK, Canada, Norway, Finland etc. and the overall score is greater than the average score of EU.
  • India has achieved a 100% score for the Transparency index and 66% in the “Women in trade” component.
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