What do you know about World Trade Organisation?

The World Trade Organisation was founded in 1995 as the successor organisation to the General Agreement on Tariffs and Trade (GATT). GATT was established in 1948 with 23 countries to provide equal opportunities to all countries in international market for trading purpose. WTO is expected to establish a rule-based trading. The purpose regime to enlarge production and trade of services to ensure optimum utilisation of world's resources and to protect environment. The WTO agreements cover trade in goods as well as services to facilitate international trade through removal of tariff and non-tariff barriers and providing greater market access to all member countries.

As a member of WTO, India has been in the forefront of framing fair global rules, regulations and safeguards and advocating the interest of developing world. India is committed to liberalise its trade regime in accordance with the consensus on other reforms.