Trade Talk on Role of Services Trade Restrictive Index (STRI) in boosting trade in services

On 25th January 2024, the Centre for Trade and Investment Law (CTIL) hosted a thought-provoking talk on the “Role of Services Trade Restrictive Index (STRI) in Boosting Trade in Services”, delivered by Mr. Prakhar Bhardwaj, Consultant at the World Bank, Washington, D.C. The session explored the significance of the WTO-World Bank STRI, a joint initiative designed to assess and benchmark regulatory barriers affecting trade in services across economies.
Drawing from his extensive experience in international trade law and policy, Mr. Bhardwaj provided an in-depth overview of the STRI’s methodology, which evaluates restrictions across 34 service sub-sectors using 35 detailed questionnaires. He emphasized how the STRI helps identify discriminatory practices, regulatory inefficiencies, and market access barriers, thereby enabling policymakers and negotiators to design targeted reforms and enhance competitiveness in services trade.
The talk highlighted the STRI’s role in promoting transparency, guiding regulatory audits, and informing trade negotiations. It also showcased its practical application in countries like Jamaica, Belize, and Uzbekistan, where Mr. Bhardwaj has led or contributed to STRI assessments.
The session featured insightful commentary from Shri Darpan Jain, Joint Secretary, and Ms. Anshika Arora, Deputy Secretary, Department of Commerce, Government of India, who reflected on India’s services trade priorities and regulatory challenges. The event concluded with a vote of thanks by Amshuly Chandran, Legal Associate at CTIL.
This session contributed to the broader discourse on services trade liberalization and regulatory reform, reinforcing the STRI’s value as a strategic tool for evidence-based policymaking and trade facilitation.