World Trade Organization Dealing With Rules For Global Trade: “Is WTO A Friend Or Foe Of India?”

India is among the prominent members of WTO and is essentially seen as the leader of the developing and underdeveloped world. At WTO, decisions are taken by consensus. So there’s a bleak possibility that anything severely unfavorable to India’s interest is unilaterally imposed. India stands to realize from different issues being negotiated within the forum provided it engages with different interest groups constructively, while safeguarding its developmental concerns.

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In the absence of such a body, we stand to lose a platform through which we will mobilize the opinion of like-minded countries against the selfish designs of the west. because of the vast resources of developed countries they’ll easily win smaller countries to their side. it is also a dispute settlement platform where disputes among different nations related to trade are resolved so that a smooth flow of goods and services can be ensured.  WTO provides a forum for such developing countries to unite and pressurize developed countries to form trade sweeter for poor countries. it also safeguards the interest of minority country or developing or underdeveloped country.

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Accordingly, as far as India’s stand is concerned,pIndia remains committed to numerous developmental issues like the Doha Development Agenda, Special Safeguard Mechanism, Permanent solution to the issue of public stock holding, etc.

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Apart from this, the Dispute Resolution Mechanism of WTO is very efficient. Chronological lists of cases in WTO are often accessed here. Countries drag their trading partner to the present body when the action of 1 country is seemed to be unfair and violative of any WTO agreement, by other countries.