Page-10 of GS-III: Economic Development
India’s Foreign Trade: Balance of Trade, Export and Import Baskets
Prior to 1947, India’s trade was a typical colonial trade, in which we used to supply raw materials to our colonial master and imported the manufactured goods. So, naturally the industrialization at home was not permitted. The indigenous handicrafts suffered ..
WTO Trade Negotiations: Doha Development Agenda, Bali Package and Nairobi Package
There are more or less 60 agreements which are administered by the WTO. However, there are six agreements which made the foundation of this multilateral organization as follows: The Agreement on Agriculture (AoA) Agreement on Trade-Related Aspects of Intellectual Property ..
WTO Trade Agreements
There are more than different 60 agreements overseen by the WTO. Any country which is accessing to WTO must sign and ratify all WTO agreements. So, far we have discussed the main provisions related to GATT that affect the trade ..
Types of Tariffs
A tariff or customs duty is a financial charge in the form of a tax, imposed at the border on goods going from one customs territory to another. Tariffs applied to imports are usually collected by customs officials of the ..
WTO Trade Remedies
According to the WTO rules, the members can also temporarily depart from some of their basic WTO obligations in order to remedy a situation of unfair competition or a surge of imports, when these cause injury to the domestic industry, ..
Trade Policy Review Mechanism
The WTO’s Trade Policy Review Mechanism (TPRM) was a result of the Uruguay Round. With the creation of the WTO in 1995, it was made permanent and broadened to cover also trade in services and trade- related aspects of intellectual ..
World Trade Organization
The WTO is an inter-governmental organization for governments to negotiate global trade agreements and progressively liberalizing trade. Currently, WTO has 164 members. The WTO operates a system of trade rules that apply to all its members. The WTO is also ..
Theories of International Trade
International trade refers to exchange of capital, goods, and services across international borders. The main difference between the domestic trade and the international trade is of “cost of doing trade” because the international trade involves border costs such as tariffs ..