(a) what are the impacts of WTO on indian econom?
(b) what are the drawbacks of WTO. (any 5)

Asked by kirti98sharma | 4th Mar, 2015, 06:35: PM

Expert Answer:

Hello Kirti, 

Impact of WTO on Indian economy:

Positive

  • Has influenced the liberalisation and globalisation process in the country.
  • Has helped the country to conduct international trade among the various member nation in an open, uniform and non-discriminatory manner.
  • Has helped in providing India technology at a reduced cost. 

Negative

  • Most of the their rules are biased towards the developing nations.
  • The country cannot impose any restrictions on foreign investments.
  • Abiding by the rules and regulations of WTO, may lead to increase in prices of live saving drugs.

Answered by  | 4th Mar, 2015, 07:23: PM

Queries asked on Sunday & after 7pm from Monday to Saturday will be answered after 12pm the next working day.