Post Liberalization Era - Indian Economy-Agriculture and WTO [IAS (Admin.) Mains Economics]: Questions 1 - 3 of 3

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Question 1

Appeared in Year: 2019

Describe in Detail Subjective▾

Examine how international agreements under the World Trade Organization have affected Indian agriculture and industry.

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Explanation

  • World Trade organization (1995) is the apex institution that manages trade and trade related issues across countries.
  • It is influencing our agriculture in a negative way when it comes to the case of export subsidies. WTO is not promoting export subsidies because export subsidies ruin healthy competition in the international agricultural market. If s…

… (318 more words) …

Question 2

Appeared in Year: 2022

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What is the main purpose of General Agreement on Trade in Services (GATS) ? What are the services covered under it? State the modes under which the services are supplied. (Paper II)

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Explanation

The General Agreement on Trade in Services (GATS) is a multilateral agreement that seeks to promote trade in services among member countries of the World Trade Organization (WTO) . The main purpose of GATS is to create a framework of rules and principles for the international trade of services, including measures that restrict or distort trade in s…

… (224 more words, 3 figures) …

Question 3

Appeared in Year: 2022

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Answer the following questions in about 150 words each; (Paper II)

Discuss the prospects and challenges faced by Indian agriculture due to World Trade Organization (WTO) provisions.

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Explanation

India՚s agriculture sector faces both prospects and challenges due to the provisions of the World Trade Organization (WTO) . Some of the main prospects and challenges are:

Prospects

The main prospects of WTO are as follows:

Main Prospects of WTO
  • Access to global markets: The WTO provisions provide Indian agricultural products with greater access to glo…

… (345 more words, 10 figures) …