Critically examine the role of WTO for the developnemt of India’s Foreign Trade.
Or
State certain disadvantages that India may face as a member of WTO.
India may face adversly on the following grounds/ issues:
(i) WTO focuses more on the interests of developed j countries and takes decisions in their favour.
(ii) WTO agreements are likely to cause a hike in the prices of drugs and agricultural inputs.
(iii) Indian service sector is likely to face tough competition.
(iv) Despite the rules and regulations made by
WTO to promote free trade among member nations; developed countries are imposing more restrictions and creating more trade barriers than underdeveloped countries.