Question

Write the detailed answer.

Write the effects of WTO on India.

Answer 1

1. India put a thrust on economic progress after becoming a member of WTO.
2. The report published by WTO in 2006 has made a special mention of the increasing economic growth rate of India. Growth in investments, fall in the ratio of population below the poverty line, fall in infant mortality rate, increasing availability of facilities for literacy, potable water, and drainage system in India, are also mentioned in this report.
3. By adopting ways like simplifying import rules, modifying laws regarding rights on intellectual property, modifying patent laws, India entered the global economy.
4. Several plans such as Pradhan Mantri Rojgar Yojana, Suvarnajayanti Gramin Svayam Rojgar Yojana, Jawahar Gram-Samruddhi Yojana, Sampoorna Gramin Rojgar Yojana, Rashtriya Gramin Rojgar Hami Yojna for rural development have been implemented so that we develop rural areas, create employment opportunities for an ever-increasing population.
5. The transformations in the various urban areas happen such as massive modernisation of the cities (i.e., Jnnurm), creating national highway network (Golden Quadrilateral), Metro Railway, etc.
6. Development in communication means such as post department, speed post, etc.
7. The Government is focusing on reducing its investment in the sectors like mining, petroleum refineries, roads and highways, port trusts, telecommunication, and foreign investments in these sectors are now permitted. The policies of ‘Privatisation, Liberalisation, and Globalisation (popularly known as ‘KHAUJA’), boosted the confidence of Indian companies.