Impact Of World Trade Organization On Indian Economy

World Trade Organization (WTO) is a worldwide global association managing the principles of exchange in trade between countries. The work of WTO moves around WTO agreements, negotiated and signed by the bulk of the world's trading nations and ratified in their parliaments. The objective is to help makers of products and enterprises, exporters, and merchants in directing their business. The World Trade Organization (WTO) Came into existence on January 1, 1995 that holds a great promise for the entire world economy in respect of international trade. This Organization administers the new global trade rules in a international trade. Peter Sutherland, the first Director General of WTO said, “The WTO binds nations in a global co-operative endeavor to raise income and create good jobs through fair and open trade.” The issue of GATT/WTO New ( January,1995) observed that the new global trade rules were achieved after seven years of negotiations among were more than 120 countries and through the WTO agreements and market access commitments; world income is expected to rise by over 800 billion dollar annual by the year 2008 and annual global trade.