International trade is a macroeconomic term focusing on trading goods and services across national boundaries. Without international trade, nations assume disadvantages in their own countries. Globalization has affected all countries given a new e...

International trade is a macroeconomic term focusing on trading goods and services across national boundaries. Without international trade, nations assume disadvantages in their own countries. Globalization has affected all countries given a new environment for industrialization, advanced technology, global value chain, and outsourcing; all these having a major impact on the international trading system. International trade is also a branch of economics, which together with international production and financially forms the larger branch called international economics. Global rules-based, World Trade Organization (WTO) was set up in 1994 for making foundation of the multilateral trading system. Under the umbrella of WTO, GATT, GATS, TRIPs were included with a basic objective of implementation of multilateral agreements and facilitating, implementation, administration and operation of agreements. Accordingly all foreign trade policies of all countries are WTO compatible. Trade Facilitation Agreement was adopted by the WTO in 2017 to address the multiplicity of border agencies and the documentation issues to reduce the cost of transactions by simplifying and harmonizing formalities and procedures more transparent. The EDI system known as ICEGATE in India does facilitation, accountability, consistency, transparency and simplification of documentations in exports and imports.