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Kaz-wto and India

Kaz-wto and India

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Published by Kaz Sudani

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Published by: Kaz Sudani on Sep 19, 2010
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India and WTONavnirman Institute of Management
India and World Trade Organization 
Centre William Rappard Geneva, Switzerlan
1 January 1995
Created by:
Uruguay Round negotiations (1986-94)
153 countries of which 117 are developing countries on 23 July 2008
200 million ($180 million, ¼130 million)
 Secretariat staff:
Pascal Lamy (Director-General)
Official lang 
English, French and Spanish.
India and WTONavnirman Institute of Management
1.India and World Trade Organization 
 India is one of the founding members of WTO along with 123 other countries.India's participation in an increasingly rule based system in governance of International trade,would ultimately lead to better prosperity for the nation. Various trade disputes of India withother nations have been settled through WTO. India has also played an important part in theeffective formulation of major trade policies. By being a member of WTO several countries arenow trading with India, thus giving a boost to production, employment, standard of living and anopportunity to maximize the use of the world resources.The World Trade Organization came into existence on January 1
, 1995.Government had concluded the Uruguay Round Negotiations on 15
December 1993andMinister had given their political backing to the result by singing the Final Act at the meeting atMarrakesh, morocco in April 1994. The ³Marrakesh Declaration´ of April 1994, affirmed thatthe result of the Uruguay Round would µstrengthen the world economy and lead to more trade,investment, employment, and income growth throughout the world.¶ The WTO is theembodiment of the Uruguay Round result and the successor to General Agreement on Trade andTariffs (GATT).
India and WTONavnirman Institute of Management
.Introduction to General Agreement on Trade and Tariffs (GATT).
In 1948, a meeting took place in Bretton Woods, New Hampshire: theInternational Monetary Conference. There, negotiators agreed to create the InternationalMonetary Fund and the World Bank. But they could not agree on an organization to deal withinternational trade. 3 years later, in 1947, 23 nations approved the General Agreement on Tariffsand Trade, or GATT. It was meant to be temporary. Trade negotiations under GATT werecarried out in a series of talks called rounds.
rom GATT to WTO
Dates Name(Round) Outcome1947 Geneva Round 45,000 tariff concessions representing half of world trade.1949 Annecy Round Modest tariff reductions.1950-51 Torquay Round 25% tariff reductions in relation to 1948 level1955-56 Geneva Round Modest tariff reductions.1961-62 Dillon Round Modest tariff reductions.1963-67 Kennedy Round Average tariff reductions of 35% of industrial production, onlymodest reduction for agriculture product, anti- dumping codes.1973-79 Tokyo Round Average tariff reductions 34% of industrial production. Non-tariff trade barrier code.1986-94 Uruguay Round Tariff, non-tariff measures, rules, service, intellectual property, disputes settlement , creation of WTO ,etc.
The primary objective of GATT was to expand international trade by liberalising trade to bringeconomic prosperity. GATT mentions the fallowing important objectives1.
Raising standards of living2.
Ensuring full employment a large and steadily growing volume of real income andeffective demand3.
Developing the full use of the resources of the world4.
Expanding the production and exchange of goods.

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