In the agriculture sector, loopholes in the multilateral system were heavily exploited, and efforts at liberalizing agricultural trade met with little success. The Uruguay round negotiations lasted for about seven and a half years, twice the time originally planned for.
It is true that the WTO mostly benefit the Role of wto in india essay countries. That does not mean that the developing countries like India are losing but not gaining anything. But the gains of these countries are limited as compared to those of the developed countries.
In all other areas of the Final Act such as agriculture, foreign investment, services, intellectual property rights other than patents, textiles, tariffs, multilateral trading rules and so on the obligations and commitments envisaged under the various agreements are not at conflict with our current policies or the direction in which our policies are moving under the economic liberalisation process.
But the withdrawal from the WTO will be the greatest blunder that the nation can commit. Operating out of the WTO would mean an infinitely labourious task of entering into bilateral negotiations with each and every one of the trading partners which may in turn, impose similar conditions.
Hence, India should continue in the WTO in view of the national interest. Of course, the U. Act ofunless specifically provided for in this Act.
India is demanding not only free trade but also fair trade. Agreement on Textiles and Clothing ATC on dismantling restrictions which for more than two decades had been controlling textile exports by the developing countries. The US is following slow progress in dismantling of the controls on imports of textiles.
Indian Textile exporters have been protesting at this slow phase- out. The demand now is therefore for an accelerated phase-out.
On January 1,85 per cent of the Textile products should be freed from restrictions in the developed country markets and by December, 31, the remaining 15 percent. While the agreement on patents gave developing countries a ten-year transition period, this was especially neutralised by the clause giving patent-holders exclusive marketing rights in India.
The basmati issue showed the need for stronger protection for products with geographic appellations than now available in the TRIPS agreement. The TRIPS rules also had to be amended to give owners of traditional knowledge sufficient reward for the use of the know- how in modern bio-technology.
Another demand is that they should be exempt from the prohibition on local content indigenisation requirements. India will have to tighten its patents regime, introduce product patents and grant patent protection for a much longer period.
Further, India will have to grant national treatment to foreign firms.
In matters such a government purchases and contracts, it cannot favour domestic firms on discrimination against foreign firms. All member countries will have to be considered as most favoured nations and no country can be favoured or discriminated against based on political and other considerations.
Foreign direct investments cannot be regulated or cleared on a case by case basis as is being done now. Nor can conditions be imposed on foreign direct investments such as export obligations, domestic sourcing of components and indigenisation programmes.
Likewise, foreign countries also cannot discriminate against Indian Firms. Market conditions and environmental factors relating to the availability of raw materials and other resources for several developing countries are similar to that of India.
Indian enterprises that have introduced modifications in technologies imported from the developed countries can be at an advantage in investing and locating their units in other developing countries having similar demand and environmental conditions.
India, in the Ministerial Conferences, stressed the need for the WTO to first address the slow progress and drawbacks in implementation of the existing agreement. Larger transition periods are needed in case of India.
India from the beginning stood against for bringing the agreements of trade and labour standards and the trade and environmental issues into the WTO.
At the same time India says that there is no need for a multilateral agreement on foreign investment and competition. The WTO is pursuing to convince India to accept the above issues.Role of the World Trade Organization Created in as a result of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT), the World Trade Organization (WTO) is a global international trade organization that develops international commerce rules and .
“The World Trade Organization (WTO) was established in , under the GATT when followed by the Uruguay Round of negotiations. It said the WTO’s mandate was “the crossing of an important threshold in international trade relations". Although there are various views on role of WTO but as far as my view is concerned, WTO plays an important positive role for the international trades and its always beneficial for the countries to trade trans-boundary being the member of the WTO.
India’s Role in World Trade Organisation! India has consistently taken the stand that the launch of any new round of talks depends on a full convergence of views amongst the entire WTO membership on the scope and framework for such negotiations.
Role of the World Trade Organization Created in as a result of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT), the World Trade Organization (WTO) is a global international trade organization that develops international commerce rules and mediates trade disputes among its members.
Essay on World Trade Organisation (WTO) Article shared by: Essay # 4. Role of WTO: Essay # Emergence of WTO and India’s Gain as a Founder Member: In a country like India, the benefits accruing from being a founder member of World Trade Organisation (WTO) are immense.
At present, only just five per cent of our tariff lines remain.