• Adarsh Choubey

Created in 1995, the World Trade Organization (WTO) is an international institution that oversees the global trade rules among nations. It superseded the 1947 General Agreement on Tariffs and Trade (GATT) created in the wake of World War II. It is based on agreements signed by the majority of the world’s trading nations. The main function of the organization is to help producers of goods and services, exporters, and importers protect and manage their businesses. The WTO has 153 members and about a two-thirds of them are developing countries. The special and differential treatment provisions allow the developed countries to treat the developing countries more favourably than the other WTO members. Developing countries like India face some challenges in coping up with the trade regime. They are: fulfilling commitments under WTO agreements which require legal and administrative reforms; capacity-building to articulate concerns and trade-offs during the negotiations; adaptation and mitigation policies to contain the adverse effects of globalisation; and the shrinking of policy space because of the global commitments. They are conscious that they did not do the preparatory work at the negotiations stage. Further, they perceive that the globalisation process is skewed (greater mobility of goods and capital and lesser mobility of labour) and that most of the S&DT provisions are not mandatory.

TRIPS,GATT, DSU,TPRD, DSB, SSM

"WTO and Its Impact on Indian Economy", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 1, page no.1039-1044, January-2019, Available :http://www.jetir.org/papers/JETIR1901C43.pdf

"WTO and Its Impact on Indian Economy", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 1, page no. pp1039-1044, January-2019, Available at : http://www.jetir.org/papers/JETIR1901C43.pdf