India’s registered a significant improvement in United Nation’s Global Survey on Digital and Sustainable Trade Facilitation with a 90.32 per cent score.

The Survey notes that India is the best performing country when compared to South and South West Asia region (63.12%) and Asia Pacific region (65.85℅).

After evaluation of 143 economies, the Survey 2021 has highlighted India's significant improvement in the scores on all five key indicators -- transparency, formalities, institutional arrangement and cooperation, paperless trade and cross-border paperless trade. India has scored 90.32 per cent in the global survey on Digital and Sustainable Trade Facilitation.

The overall score of India has also been found to be greater than many OECD countries including France, UK, Canada, Norway, Finland etc. and the overall score is greater than the average score of EU. India has achieved a 100% score for the Transparency index and 66% in the Women in trade component.

The Survey hails this as a remarkable jump from 78.49% in 2019.

After evaluation of 143 economies, the 2021 Survey has highlighted India's significant improvement in the scores on all 5 key indicators, as follows:

Transparency: 100% in 2021 (from 93.33% in 2019)

Formalities: 95.83% in 2021 (from 87.5% in 2019)

Institutional Arrangement and Cooperation: 88.89% in 2021 (from 66.67% in 2019)

Paperless Trade: 96.3% in 2021 (from 81.48% in 2019)

Cross-Border Paperless Trade: 66.67% in 2021 (from 55.56% in 2019)

88.89 per cent, from 66.67 per cent in 2019. In a statement, the Finance Ministry said that India has seen “significant improvement” in the score in United Nations'' Global Survey on Digital and Sustainable Trade Facilitation.

The Central Board of Indirect Taxes and Customs (CBIC) has been at forefront of path breaking reforms under the umbrella of “Turant” Customs to usher in a Faceless, Paperless and Contactless Customs by way of a series of reforms, it said.

"This has had a direct impact in terms of the improvement in the UNESCAP rankings on digital and sustainable trade facilitation," the ministry added.

The Economic and Social Commission for Asia and the Pacific (ESCAP) serves as the United National and regional hub promoting cooperation among countries to achieve inclusive and sustainable development. Further, during the Covid19 pandemic, Customs formations have made all efforts to expedite Covid-19 related imports such as Oxygen related equipment, life-saving medicines, vaccines etc.

The Global Survey on Digital and Sustainable Trade Facilitation is conducted every two years by UNESCAP. The 2021 Survey includes an assessment of 58 trade facilitation measures covered by the WTO's Trade Facilitation Agreement. A higher score for a country also helps businesses in their investment decisions.

Image Source: Getty Images