Backstop fund, AMC repo clearing launch in Mumbai on Friday

Backstop fund, AMC repo clearing launch in Mumbai on Friday

India continues to demonstrate its commitment to digital and sustainable trade facilitation, as evidenced by its outstanding performance in the recently released United Nations Economic and Social Commission for Asia Pacific's (UNESCAP) Global Survey on Digital and Sustainable Trade Facilitation. The 2023 survey, covering more than 140 economies and evaluating 60 trade facilitation measures, has positioned India at the forefront of global trade facilitation efforts, with an impressive score of 93.55% in 2023 vis a vis 90.32% in 2021.

 

The 2023 Survey has recognized India's exceptional progress across various sub indicators, with the country achieving a perfect score of 100% in four key areas: Transparency, Formalities, Institutional Arrangement and Cooperation, and Paperless Trade. These remarkable scores are a testament to India's relentless efforts in streamlining trade processes, enhancing transparency, and promoting cooperation among stakeholders through initiative such as Turant Customs, Single Window Interface for Facilitation of Trade (SWIFT), Pre-Arrival data processing, e- Sanchit, Coordinated Border Management etc. India has witnessed a substantial improvement in the score for “Women in Trade Facilitation” component from 66.7% in 2021 to 77.8% in 2023 thereby indicating commitment to gender inclusivity and the empowerment of women in the trade sector.

 

India is now the best performing country amongst all the countries of South Asia region. The overall score of India has been greater than many developed countries including Canada, France, UK, Germany etc.

Source

Pavita Jones