Over 70 WTO nations agree to take additional obligations in services sector, India to benefit from the move

As per estimates, the move will help reduce services trade costs by 10 per cent for lower-middle income economies and 14 per cent for upper-middle income economies, with overall savings of USD 127 billion. Albania, Argentina, Australia, Bahrain, Brazil, Canada, China, Colombia, Costa Rica, Japan, Korea, New Zealand, Norway, Saudi Arabia, Singapore, Switzerland, United Arab Emirates, the UK and US are part of the initiative.