About WTO The World Trade Organization (WTO) is an intergovernmental organization that is concerned with the regulation of international trade between nations. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. It …
Context This year marks a decade since China’s ambitious infrastructure funding project, the Belt and Road Initiative (BRI), was first outlined by President Xi Jinping. Spanning from Africa to Asia and seeing investments worth billions of dollars, it has also …
About G7 The Group of Seven (G7) is a collective of seven of the world’s most industrialized and developed economies. Their political leaders come together annually to discuss important global economic, political, social and security issues. The G7 member countries …
What’s in the news? India and the United Kingdom held their inaugural ‘2+2’ foreign and defence dialogue recently, looking to ramp up defence, security and trade ties. The two sides are currently also engaged in discussions to iron out the …
What’s in the news? The first ever G20 Parliamentary Speakers’ Summit (P20 Summit) hosted by India concluded at India International Convention Centre, Yashobhoomi, Dwarka, Delhi. Parliamentarians from across the world came together and reaffirmed their commitment to continue their joint …
What’s in the news? India has launched Operation Ajay to facilitate the return from Israel of its citizens who wish to return. Special charter flights and other arrangements are being put in place. Indian Embassy in Israel said, it has …
About BRICS BRICS brings together five major emerging economies- China, Brazil, Russia, India and South Africa. These 5 countries host 41% of the world population, contributing 31% of the world GDP and over 16% share in world trade. The grouping …
About Indian Ocean Rim Association IORA is an inter-governmental organisation which was established in 1997 to strengthen regional cooperation and sustainable development within the Indian Ocean region. IORA consists of 23 Member States (including India) and 9 Dialogue Partners. All …
Levels of Economic Integration Economic integration takes the form of the Preferential Trade Area, Free Trade Area, Customs Union, Common Market and Economic Union. A preferential trade area (PTA) is a trading bloc that gives preferential access to certain products …