(a) what are the impacts of WTO on indian econom?
(b) what are the drawbacks of WTO. (any 5)
Impact of WTO on Indian economy:
- 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.
- 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.
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