Economy NOtes

Protectionism refers to the economic policy of a country that aims to shield and support its domestic industries by imposing barriers on foreign competition

India’s membership in the World Trade Organization (WTO) has been a double-edged sword. While it has opened doors to global markets

The Generalized System of Preferences (GSP) is a preferential tariff system that developed countries extend to Least Developed Countries

The H-1B visa is a non-immigrant visa category in the United States that allows U.S. employers to temporarily employ foreign workers in specialty occupations

A Bilateral Investment Treaty (BIT) is an agreement that establishes the terms and conditions for private investment by nationals and companies of one country in another.

India played a crucial role in hosting two Informal WTO Ministerial Meetings in 2018 and 2019. These meetings served as platforms for discussions

The World Trade Organization (WTO) stands as the supreme international organization regulating global trade, fostering cooperation

Trade facilitation involves the improvement of procedures and controls governing the movement of goods across national borders.

The Directorate General of Trade Remedies (DGTR) is an important organization in India that deals with trade issues. It works to ensure fair competition and protect Indian industries from unfair trade practices

Export subsidies, particularly in the agricultural sector, have been a matter of concern within the WTO, with efforts to address imbalances and support developing countries.