Services Trade Restrictiveness Index (STRI)

Table of Contents☰

Highlights of the Survey

The 2022 STRI of India is above the OECD average and high compared to all countries in the STRI sample.
India had been progressively introducing reforms over the past years, contributing to a slight liberalisation of services trade in some sectors, most notably between 2018 and 2021.

Key facts about the Services Trade Restrictiveness Index (STRI)

It was launched in 2014 and provides information on regulations affecting trade in services in 22 sectors across all member countries.
The regulatory database and indices are updated annually in December.
There is also a Digital STRI that identifies, catalogues, and quantifies cross-cutting barriers that affect services traded digitally.
Scoring: This index takes values between zero and one, one representing a totally closed and zeros a fully open sector.

Q1) What is the aim of OECD?

The Organisation for Economic Co-operation and Development (OECD) is an international organisation that works to build better policies for better lives. Its goal is to shape policies that foster prosperity, equality, opportunity and well-being for all.

Source: STRI: India rises on OECD index, still ranks fourth from the bottom