India’s equation with the WTO

IIPM BEST B-SCHOOL
India’s equation with the WTO is central to its trade policy; but with Union Commerce Minister Kamal Nath pronouncing that WTO is all but dead, newer alternatives are fast needed. A re-engineering may be in the offing with multilateral trade deals taking centre stage. Even the ASEAN is looking at Free Trade Agreements among member nations. Is this the path India will take?

Jimmy Carter, the former US president, once remarked sardonically when asked about the significance of globalisation in today’s world, “Globalisation, as defined by rich people like us (developed countries), is a very nice thing... you are talking about the Internet, you are talking about cell phones, you are talking about computers. This doesn’t affect two-thirds of the people of the world.” Is globalisation for the rich and greedy? A tool in the hands of the rich to exploit the poor? Though it sounds like the negative spiel a nationalist is likely to spout, it may just be the sad truth if the way the Doha Round came to a moribund halt on July 24, 2006, is anything to go by.

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Source :- IIPM Editorial, 2006, Editor - Prof. Arindam Chaudhuri

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