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As result, India is a net exporter of petroleum products. The export of petroleum products increased from 38.94 Mt in 2008–09 to 56.76 Mt during 2020–21. [28] India has an 82.8% import dependence for crude oil and 45.3% for natural gas. [29]
The World Trade Report (WTR) is the annual report published since 2003 by the World Trade Organization. Each WTR provides an in-depth analysis of an aspect of trends in international trade , trade policy issues and the multilateral trading system.
This was the first multilateral agreement by the WTO (concluded with 160 countries) and restored the legitimacy of the WTO as a negotiating forum. [12] [19] In November 2015, India's Prime Minister Narendra Modi stated that the Bali Package had gone through a slowdown since its signature, urging other countries to implement it in due time. [20]
Globalization is a process that encompasses the causes, courses, and consequences of transnational and transcultural integration of human and non-human activities. India had the distinction of being the world's largest economy till the end of the Mughal era, as it accounted for about 32.9% share of world GDP and about 17% of the world population.
The WTO will need a different modus operandi for the new issues of the digital economy, such as AI regulation, subsidy policy, supply chain reformulation, and the scope of national security.
A global consortium of semiconductor industry groups has asked India to reconsider its plan to push for duties on cross-border digital e-commerce and data transfers at an upcoming global trade ...
The World Integrated Trade Solution (WITS) is a trade software provided by the World Bank for users to query several international trade databases.. WITS allows the user to query trade statistics (export, import, re-exports and re-imports) from the UN's repository of official international trade statistics and relevant analytical tables (UN COMTRADE), tariff and non-tariff measures data from ...
This put agriculture in the spotlight of international trade diplomacy, and GATT began the Uruguay Round in 1986 with the focus of “developing a powerful institutional framework…to regulate the rules of [multilateral] trade for world agriculture.” [19] At the conclusion of the rounds in 1993, GATT dissolved in favor of the newly formed ...