IMPACT OF THE WTO REGIME ON INDIAN AGRICULTURAL TRADING COMMODITIES


Dr. Anil Bhuimali
Vice Chancellor, Raiganj University, Raiganj, West Bengal
and
Debasish Chakraborty
PhD scholar, Department of Economics, University Of North Bengal,
West Bengal, India

Abstract
Agriculture remains the back bone of societies since ages and histories, and it is of no difference in case of India. Though it is declining, agricultural sector comprised around 50% of India’s GDP in the early 1950’s. Today around 17% of India’s GDP (India’s GDP is US $ 2.545 trillion) is from agricultural sector and 55% of total employment comes from agricultural sector. About 70% people directly or indirectly depends on it and about 43% of India’s total land is covered by agricultural sector. India became self sufficient in Food grain production decades after independence. It is now producing around 280 million metric tons of food grains in the world and ranks first in many major agricultural food crops in the world. But after liberalization phase started in the world with WTO( 1st Jan 1995) and AOA many thing has dramatically changed in agricultural sector of India, for example, Total yield or Output, Farm Pattern, Agricultural Infrastructure, Annual Compound Growth rate in Production & Export, Imports, Prices of major agricultural food and non food materials, Export Competitiveness, quantitative restrictions, tariff & non tariff barriers , export subsidy, domestic support, sanitary & Phyto sanitary measures, Geographical Indication, Trade related intellectual property rights etc. WTO which has replaced GATT (general agreement on trade & tariff 1947-1994) was established for multilateral trade agreements among nations is committed to Free trade, Non discriminations in trade, Removal of Quantitative Restrictions, non tariff barriers between nations and free & fair competitions in trade among nations. India who is a founding member among 162 member nations of WTO, maintaining and obeying most of the clauses related to developing nations in WTO charters. Our study have looked into the norms and rules of WTO, how far India has followed those rules and what are the consequences has happened to India’s agricultural trade since WTO and a comparison between the pre & post WTO era in trading of Indian agricultural commodities. And our Findings in this small study is that India has benefitted in many extent in agricultural trade the post liberlisation or post WTO period and trade indicators are positive in many extent. This thing has surfaced many issues that may be taken for study and research.

Key words: WTO, AOA, Market Access, Domestic Support, Trade, Agricultural Commodities, Import & Export growth

[To know more may read the full article, click eBook]



No comments:

Post a Comment

Share Every Sense on Art, Culture & Literature; Travel & Tourism; Commerce & Economy; Science & Technology; etc. Send us your Write-up by Email: dimorianreview@gmail.com

DIMORIAN REVIEW WELCOMES YOUR ASSOCIATION AS CONTRIBUTOR

Share every sense on Art, Culture & Literature; Travel & Tourism; Commerce & Economy; Science & Technology; etc. Publish Article, Story, Poetry, Book Review, Travelogue, Recipe and News. Send us your creative contents written or transcreated in English at E-mail:dimorianreview@gmail.com

Get Free Updates at Your Inbox! Enter Your Email Address:

HAPPY TO SEE YOU HERE. PLEASE VISIT AGAIN. HAVE GOOD TIME!

Twitter Bird Gadget