Due to Russia-Ukraine war, Russia slipped to 48th position in the index. The report highlighted the privatisation of Air India, elimination of pricing guidelines for transfers of between residents and non residents, and restriction of foreign participation in certain Services sectors.
Reflecting presence of huge market barriers in the country, India stood at 47th position in Services Trade Restrictiveness Index(STRI) conducted by the Organisation for Economic Cooperation and Development (OECD) for the year 2022. However, there was an improvement from last year’s ranking by one position.