Indian Economy

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India and the Wto

Introduction

The World Trade Organization (WTO) is one amongst the three international organizations that oversee the economic and commercial relations between nations; the other two being the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), generally referred to as the World Bank. The WTO has its headquarters in Geneva, Switzerland. The WTO deals with regulation of trade between participating countries which number 160 at present; WTO ‘provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants’ adherence to WTO agreements which are signed by representatives of member governments and ratified ...