Report by the WTO Secretariat

India’s economic growth continued to be strong for most of the period under review, averaging 7.4% until 2018/19. A number of reforms were implemented, including the introduction of the Goods and Services Tax (GST) to harmonize the indirect tax system; the Insolvency and Bankruptcy Code to address the problem of debt in the corporate sector; banking reforms to improve supervision of banks and non-banking financial companies; and, most recently, legislation to improve marketing and reduce regulation of agricultural products. Trade policy remained broadly unchanged during the period under review.