What is trade facilitation? The conventional understanding is it includes efforts to minimize obstacles to the cross-border movement of goods. The bigger these obstacles, the more are costs incurred by exporters and importers, reducing their financial margins, and affecting competitiveness.
India the 5th largest economy country have adversely impacted prospects of exports, even when many of them enjoy production advantages of using cheap natural resources and skilled labour.
TFA+ approach has become more evident after the COVID-19 pandemic. Disruptions inflicted by the pandemic on supply chains were bizarre.
It’s a major objective policy of India for now.
