Services Trade Restrictiveness Index (STRI)

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Overview:

In the recent services trade restrictiveness index (STRI), India’s rank improved a notch to 47 from 48 among 50 countries surveyed by the Organization for Economic Co-operation and Development (OECD).

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