India's growth remains strong, but trade barriers threaten 2047 goal: WTO
The WTO's latest report suggests that while India remains a fast-growing economy, it must address structural issues like trade costs and regulatory complexity to reach its 2047 development goals. The report highlights progress in digitalization but warns that high tariffs and trade-restrictive measures remain obstacles.
Why it matters
It provides an international institutional perspective on the economic policy adjustments required for India to sustain its growth trajectory.
India will need to address structural challenges such as high trade costs, regulatory complexity, infrastructure gaps and barriers to deeper global integration if it is to achieve its ambition of becoming a developed nation by 2047, according to the World Trade Organisation's (WTO) latest Trade Policy Review (TPR) report.The report said India remained the fastest-growing G20 economy during the review period and was expected to maintain strong momentum, but warned that sustaining this growth over the long term would require deeper structural reforms to improve competitiveness and attract greater investment.What WTO report saidAccording to the Trade Policy Review report prepared by the WTO Secretariat, India's real GDP growth is projected to remain between 6.8% and 7.2% in FY2027-28, continuing the strong performance recorded during the review period."Looking further ahead, sustaining the strong economic performance needed to reach the Viksit Bharat vision of a developed India by 2047 will require addressing…
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