India 's World Trade Organization

The Doha Round is the latest round of negotiations that began November 2001. Its aim was to lower trade barriers, revise trade rules and to promote trade in developing countries. (WTO.org) Both the

The World Trade Organization was developed in 1995 out of what was known as the Uruguay Round. Although GATT set rules they mostly dealt with issues just involving simple trade of goods and the distribution of tariffs. The WTO has a broader job than the GATT; “…it oversees multilateral agreements relating not just to good, but also to services, investment and intellectual property.” (Douglas Irwin, 186) The World Trade Organization is an independent organization and decisions are made out of consensus of the member countries involved, not from the World Trade Organization itself. When a country complains about another country and the way they run things that could affect their home country, the WTO must make a decision on what must be done. Once a ruling has been made the losing country must implement one of three strategies:

World Trade Organization ( WTO Eng . World Trade Organization (WTO) - an international organization founded January 1, 1995 for the purpose of international trade liberalization and regulation of trade and political relations between the Member States. WTO established under the General Agreement on Tariffs and Trade (GATT) .WTO is responsible for the introduction of new parts as well as enforces the members of the organization of all agreements signed by most countries and ratified by their parliaments. WTO bases its activities on the basis of decisions taken in the years 1986-1994 in the framework of the Uruguay Round and earlier GATT agreements. As of July 2012 , there are different groups of negotiations in the WTO system to address current issues in terms of agriculture, which leads to stagnation in the negotiations themselves .WTO headquarters is in Geneva , Switzerland. WTO chief ( CEO ) - Roberto Carvalho de Azevedo , in the state of the organization about 640 people. On March 2, 2013 the WTO consisted of 159 countries .

The Doha round of talks held in 2001 wanted to involve developing countries due to their growing importance, and hence this round was nicknamed the “Development Round.” Critics of this round suggested that nations should pursue more bilateral and regional trade agreements. This meant more Regional Trade

Over the course of its history, the World Trade Organization (and its predecessor the General Agreement on Tariffs and Trade) has aimed to liberalise trade throughout the globe. While accomplishing such a task is no easy matter, the WTO has managed to successfully implement a number of agreements over the course of 67 years towards such a goal. Recently though, the WTO seems to have stalled in producing successful agreements. The latest round of such agreements, dubbed the Doha Development Round, has been in development for nearly 15 years now with little to show for it. Why is it then that the WTO, an organization that has managed to successfully agree on eight previous rounds, been stuck for so long?

Established under the Marrakech Agreement in 1995, the Geneva based WTO replaced GATT as the center of world trade system. Its core principles are to promote market liberalization, non-discrimination and provide legal structure for international trade. Same as GATT, it provides forum for trade negotiations and administers trade agreements. In addition, WTO also supplies mechanism through which governments may resolve trade disputes, review and propagate the national trade policies, provide useful data and information, and to ensure the coherence and transparency of trade policies through surveillance in global economic policy-making. The Decision making

The WTO comes about its rules through rounds of negotiations on certain trade topics or subjects until an agreement is reached upon. The latest completed round of negotiations was the Uruguay Round in 1994, which was predicted to influence world growth and development for decades to come and to have brought about the biggest reform of the world 's trading system since GATT was created .

The economy of India is a creating blended economy. It is the world's 6th biggest economy by ostensible Gross domestic product and the third-biggest by obtaining power equality (PPP). The nation positions 141st in per capita Gross domestic product (ostensible) and 123rd in per capita Gross domestic product (PPP). After 1991 financial progression, India accomplished 6-7% normal Gross domestic product development every year. The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

In 1948, few years after second world war General Agreement on Tariffs and Trade (GATT) was created to provide a stable international trade and international economic unity.

The World Trade Organization or WTO is a large group of countries formed in January of 1995 and comprised of about 165 countries, replacing GATT. According to the WTO’s website describes itself as “a forum for governments to negotiate trade agreements, . . . a place for them to settle trade disputes, . . . operates a system of trade rules” (“Who We Are,” 2016). The WTO is a place where the governments of member countries try to sort out and develop problems that countries may have with one another. Every so often a problem with trade takes place that requires large amounts of negotiations before establishing new rules and policies. When large amounts of negotiations are needed the WTO enters into a “Round.” Each round helps to set a new standard of trade.

From Albania to Zimbabwe, many countries have become involved in the World Trade Organization over the years. Any state or customs territory having full autonomy in the conduct of its trade policies may become a member of the WTO, but all WTO members must agree on the terms. This is done through the establishment of a working party of WTO members and through a process of negotiations. All members have joined the system as a result of negotiation and the membership means a balance of rights and obligations. They like the ideas that other members give to them and the security that the trading rules give in. In return, they had to make understandings to open the markets and to go by the all the rules. Those commitments were the outcome of the membership decisions. Countries going through membership are WTO observers. Article XII of the WTO Agreement says that joining to the WTO will be on terms to be agreed between the government and the WTO. Joining the WTO is a process of negotiation, slightly different from the process of joining other international trades.

Despite of the complex policies and restrictions foreign investors were confident of India 's economic growth as even during the peak of the global economic crisis, the country 's GDP registered a healthy growth rate. India 's merchandise trade increased to 40% as a percentage of GDP in 2009-2010 from 30% in 2005-2006, which

Economic Globalization has swept across the world since the end of WWII. Slowly but surely all the nations across the world have been impacted by Economic Globalization. India for example, has been one of the countries that has been recently hit by the storm, and India’s economy can be seen to still be shooting up. In my paper I will be discussing the Economic Globalization of India, the roots of the globalization to occur, the effects it had and the negative effects it had. Effects such as foreign trade, economic growth and GDP (Gross Domestic Product). From the mid 90’s to current times India sees the effects of globalization, bringing India into one of the top countries in the world in terms of GDP being ranked at 10th in the world.

a) With taking many of the economic reform program the Indian economy expanded at an annual rate of about 6.1 percent from 1994 to 2004 and foreign direct investments was attractive for foreign companies thought the Indian economy was jumped from $150 million in 1991 to $4.3 billion in 2003.

As mentioned, India is one of the fastest growing economies in the world are China and also the two