India 's World Trade Organization

3583 Words Sep 7th, 2014 15 Pages
INTRODUCTION

India is one of the members of WTO and considers as a developing country. In October 1947, India became the member of GATT. India is considered to be the 10th largest in the world in economy. In 2013, India was considered to be 19th largest merchandise and the 6th largest services exporter in the world. But during 2013-14 which is considered to be the fiscal year, the economic growth has been slowed down. WTO i.e World Trade Organization was formed on the 1st of January 1995 by the Uruguay Pact countries. Before WTO was known as GATT i.e General Agreement on Tariffs and Trade which was formed after Second World War with the objective to smooth the trading relation between nations. In the beginning though there were 23 members but among them 12 are called the developing countries. It provides a platform for trade negotiations, technical assistance and for cooperation with other international organizations. All member of the WTO has to compulsorily follow the policies for their benefit.

WTO is a multilateral agreement for conduct of international trade in goods and services and also for protection of intellectual property rights, i.e., patents, copyrights, trademarks, etc and other trade related issues. The main objective of the WTO is to reduce tariff on international trade.

WTO covers three main issues, such as:

 Trade in goods,
 Trade in services, and
 For the protection of Intellectual Property Rights

Now to solve the dispute between governments an…
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