Context: The UNCTAD report has made growth projections about India that Indian economy is projected to grow 6.5% in 2024.
About UNCTAD:
- The United Nations Conference on Trade and Development (UNCTAD) was established almost six decades ago in 1964, as an organ of the United Nations General Assembly.
- UNCTAD helps developing countries participate more equitably in the global economy.
- It also supports developing countries efforts to use trade, investment, finance, and technology as vehicles for inclusive and sustainable development.
- Membership: 195 member states.
- HQ: Geneva, Switzerland
- As part of the United Nations Secretariat, UNCTAD reports to the UN General Assembly and the Economic and Social Council but has its own membership, leadership and budget. It is also part of the UN Sustainable Development Group and supports the implementation of the Financing for Development process.
- UNCTAD works with member States, international organizations, academics, non-governmental organizations, media, civil society and youth.
- The UN General Assembly held the first United Nations Conference on Trade and Development in 1964. The UN institutionalized the conference and gave it a mandate to meet every four years, with intergovernmental bodies meeting between sessions and a permanent secretariat providing the necessary substantive and logistics support.
- There have been 15 quadrennial conferences since 1964. The fifteenth (UNCTAD15) was held in Bridgetown, Barbados in October 2021.
UNCTAD Reports
The United Nations Conference on Trade and Development (UNCTAD) publishes important reports like:
- Trade and Development Report
- World Development Report
- The least Developed Countries Report
- Information and Economy Report
- Commodities and Development Report
- Technology and Innovation Report