Identify the statement which doesn't relate to WTO.

It was set up by Government of India to attract foreign companies to invest in India.

The correct answer is option (2) : It was set up by Government of India to attract foreign companies to invest in India.

The World Trade Organization (WTO) is an international organization that deals with the rules of trade between nations. It aims to facilitate international trade by promoting free trade principles, removing trade barriers, and resolving trade disputes. The other options are relevant to WTO:

• It aims to liberate international trade: This aligns with WTO's objective to liberalize trade and reduce barriers.
• It helps to remove trade barriers: One of the primary functions of WTO is to negotiate and enforce agreements to reduce trade barriers.
• It is successor to GATT (General Agreement on Tariffs and Trade): WTO is indeed the successor to GATT, which was established in 1947 and later transformed into WTO in 1995.