When was the Duty-Free Tariff Preference (DFTP) Scheme for Least Developed Countries (LDCs) announced by India?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 2008.
India announced the Duty-Free Tariff Preference (DFTP) Scheme for Least Developed Countries (LDCs) in 2008. This initiative aimed to provide duty-free and preferential market access to exports from LDCs, helping them integrate into the global trading system and promote their economic growth. Under this scheme, eligible countries enjoy reduced tariffs on a wide range of products exported to India, encouraging trade partnerships and supporting economic development in some of the world's most vulnerable economies.