Country must do homework on WTO: SC advocate
India is facing significant challenges in the area of world trade Particularly lack of homework is leading to several problems in the wake of World Trade Organisation WTO regime, observed Supreme Court senior advocate Sunil Bedekar here on Wednesday at GITAM Deemed to be University
Hyderabad: India is facing significant challenges in the area of world trade. Particularly lack of homework is leading to several problems in the wake of World Trade Organisation (WTO) regime, observed Supreme Court senior advocate Sunil Bedekar here on Wednesday at GITAM Deemed to be University.
He delivered a distinguished lecture at GITAM School of Law on “Indian Business Systems in WTO Regime” referring with several case studies. He observed that the country is facing myriad obstacles like poor understanding of WTO policies and its potential benefits. While mentioning about several cases he said that India failed to provide sufficient evidence to defend themselves.
He also explained how India’s agriculture subsidies has a negative effect on international markets. Crafting a successful trade policy requires an understanding and use of WTO rules and procedures, he added. He pointed that China has benefited a lot from its accession to WTO when compare with the other developed countries.
He said that if the country’s goods and services more competitive, technologically innovative with high standards that could bring immeasurable benefits to India in International Trade. The country must transform itself into a globally competitive economy in coming years with more transparent trade practices, he added.
GITAM In-Charge Vice-Chancellor Prof. K. Sivaramakrishna presided over the function and GITAM School of Law Director Prof. R. Anita Rao briefed about the important milestones of WTO. The faculty and students from School of International Business, School of Law participated in the meeting.
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