External Sector

India and WTO – WTO Reforms and Doha Round

Aspect

Description / Key Points

Introduction / Concept

  • World Trade Organization (WTO): The regulatory body for global trade rules.
  • India’s Perspective: India supports a fair, transparent, and inclusive global trade system that protects the interests of developing countries.

Background

  • Doha Development Round (2001): Aimed at reducing trade barriers for developing nations, but remains incomplete due to differences between developed and developing nations on issues like agriculture subsidies and market access.

Key Features

  • Agriculture Subsidies: Demand to reduce heavy subsidies provided by developed nations.
  • Dispute Settlement: Re-activating the WTO's Appellate Body.
  • S&DT: Maintaining 'Special ....
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Economy