India

The much-anticipated Trade Facilitation Agreement (TFA), facilitated by the World Trade Organization (WTO) is back on track after India reached a settlement with the United States over food supplies. Initially proposed back in December during a meeting in Bali, the TFA is intended to simplify customs rules and speed up the transit of goods through ports. The TFA would be one of the largest multi-lateral trade agreements in WTO history. (The Hindu)

The Organization for Economic Cooperation and Development (OECD) says that India is coming out of its worst recession in over 25 years, though still has a ways to go to achieve its full economic growth potential. The group predicts that the country’s economy will grow by 6.6% in FY 2015-16, compared to a previous forecast of 5.7%. Experts say that significant investments in infrastructure and financial reforms will be key for the country to achieve greater growth. (Times of India)