World Trading System and Developing Countries : A Case Study of India

Contents: Preface. 1. Introduction. 2. Review of literature. 3. World Trading system: evolution and present status. 4. Developing countries in the emerging world trading system. 5. India in the world trading system. 6. Summary and conclusions. Abbreviations. Bibliography.

The fundamental principles of the trading system is to help trade flow as freely as possible, on the one hand, and deal with disputes over trade issues on the other. A trading system that is rule based helps in the expansion of trade. Similarly, a trading system that lowers trade barriers through negotiations and applies the principle of non discrimination promotes trade from developing countries. Further the trading system that allows disputes to be settled effectively and constructively has the added advantage for the developing countries. The world trading system under the WTO promises all but its working over the past years since its establishment has revealed that the pace and pattern of implementation by different member countries have not been uniform. More powerful players in the trade space have evolved many new instruments of safeguarding their national interest while the weaker players have been forced to implement their commitments. This has generated asymmetries in the pattern of effective market access in the different countries of the world economy.

This book provides an overview of the past, present and feature of the Word Trading System. This book is particularly suggested that the world trading system under the WTO offers both opportunities and challenges for developing countries including India. This work is also making it convenient to understand the impact of new challenges thrown by WTO regime. This book will be of interest to scholars and students of International Trade, Politics, Economics and businessman.