1. Diwan-63
Harsh-07
Rajveer-28
Prabhjot-27
Abubakar-17
Henik-15

3.  Developed and developing countries face problems
relating to trade. Such problems relate to protective
duties, trade restrictions, exchange control restrictions
and so on.
 The institution established for solving financial &
commercial problems at the international level are
called international economic institution.

4. 1. General Agreement On Tariffs & Trade (GATT)
2. World Trade Organization (WTO)
3. United Nations Conference On Trade &
Development (UNCTAD)
4. International Monetary Fund (IMF)
5. International Bank For Reconstruction &
Development And Its Sister Institutions (World
Bank)

5. General Agreement on
Tariff and Trade
(GATT)

6. The General Agreement On Tariffs & Trade(GATT) is an
multinational agreement between the governments.
It was signed on October 30, 1947 by 23 nations (including
India) in Geneva & came into effect from 1st January, 1948.
125 countries have joined the membership of GATT.
 GATT was replaced by WTO (World Trade Organization)
on 1st January, 1995.

7.  The basic aim of GATT was to make international
trade free of all barriers.
 The principle of GATT: Principles of transparency,
multilateralism & non-discrimination with a
willingness to reduce trade barriers on the basis of
reciprocity.

8. a) Raising standard of living of the world community
b) Ensuring full employment
c) Developing full use of resources
d) Bringing expansion of production & international trade

9.  Any proposed change in the tariff or other type of
commercial policy of a member country should not be
undertaken without consultation of other parties to
the agreement.
 That the countries that adhere to GATT should work
towards the reduction of tariffs & other barriers to
international trade which should be negotiated within
the framework of GATT.

10. •WTO Agreement on Trips came effect for developed countries on
1 st January,1996.
•The Agreement provides a transitional period of 5years (up to
January,2000) for developing countries to bring their IPR
legislation in conformity with the provisions of the Agreement.
•This agreement is concern only with Property Rights but this
agreement on TRIP’s is against Indian Patents Act,1970
•In India , the general public is not favorable to TRIPS as it is
argued that TRIPS as embodied in the GATT agreement will not be
favorable to our economy.
•It is suggested that TRIPS are favorable to rich and developed
countries and not to poor and developing countries. This is
because rich countries hold a very large number of patents.

11. 1. Patents
2. Industrial Design
3. Trade Marks
4. Copy Rights
5. Layout Design of Intellectual circuits
6. Trade secrets
7. Geographical indicators
8. Plant microorganisms
9. Plant varieties.

12.  Impact on Patent Protection.
It implies that the patent regime will have manufacturing
monopoly as well as import monopoly of the patent
holder.
 Impact on Drug Prices.
India is able to supply drugs at low prices. It is argued that
prices of drugs will increase in India due to TRIPS.
 Impact on Agriculture.
The agreement on TRIPS extends IPR’s to agriculture
through the patenting of plant varieties. This will have
serious implications for Indian agriculture.

13.  All restrictions on foreign capital/investors/companies should be scrapped.
 No restrictions will be imposed on any area of investment.
 Foreign investors shall be given the same rights in the matter of investment as
a national investor
 Imports of raw materials and components will be allowed freely.
 Foreign investor will not be obliged to use local products and materials.
 Export of part of the output will no longer be mandatory.
 Restrictions on repatriation of dividend, interest, royalty will be eliminated.
 There will be a complete exclusion of provisions like phased manufacturing
programme which is intended to increase the indigenous content in
manufacturing.

14. • Time Period
The agreement requires the notification of all WTO-
inconsistent TRIMS and their phasing out within two to
seven years by industrial, developing and least developed
countries respectively.
• Financial Investment
India has accepted some of these features in order to
encourage large-scale foreign investment in India.
• Adverse Effect
TRIMS and its impact on developing countries will be
harmful. In the case of India, complying with the
agreement on TRIMS would mean giving up any plan of
self reliant growth based on locally available resources and
technology.

15.  WTO is for free and fair trade at the global level.
 WTO is operating as a global trading organisation
since 1995.
 It is also for the protection and preservation of
environment and the growth of less developed
countries.

16.  WTO started functioning from 1st January 1995 and was
the conversion of GATT.
 The Dunkel Proposals was the basis of the emergence of
WTO having 147 countries as its member.
 India was founder member and joined in 1997.
 Copyrights were protected.
 Evolution of multilateral trading system.
 Governing body of world trade.

17.  Free Trade
 Growth of less developed countries
 Protection of environment
 Optimum use of resources
 Standard of living
 Settlement of trade disputes

18. Achievements of WTO
WTO is operating as a global trade forum since
1995.Unfortunately ,the concrete achievements of WTO are
limited.
Its achievements are as follows:
ELIMINATION OF TARIFFS
AGREEMENT ON FINANCIAL SERVICES
LIBERALISATION OF POLICIES

19.  The new agreement will lead to FREE and FAIR
TRADE at the global level .
 It is a big victory for the poor countries .
 Another meeting at GENEVA in JULY 31st , 2004 was
held to discuss the concerns of the developing
countries . India was represented by commerce and
Industry minister Mr Kalam Nath .

20.  It started on Saturday, 31st July 2004.
 It is a welcome breakthrough as the trade
liberalization under the aegis of the WTO is back on
rails .
 The present WTO deals offer new hope for farmers
and new economy.
 Indian farmers and cotton growers will get the benefit
of new agreement.

21.  The sixth ministerial conference of WTO was held in
HONKONG in December, 2005.
 India and Brazil worked relentlessly to get some kind
of deal for the developing.
 The significant development of this WTO meet was
the greening of the young and newly developed
countries.

22.  In the last week of July , 2008 WTO mini-ministerial
talks held at WTO headquarters in GENEVA collapsed
ultimately.
 From Nov 30- Dec 3, 2009,the seventh WTO
ministerial meeting was the first full ministerial
meeting of the WTO.
 In short this meet was non – eventful with no major
outcome. Future course of WTO seems to be uncertain
with the US laying emphasis on bilateral negotiation.

23.  India is bound by WTO agreements after rectification
of the final act in 1994.
 As a member of WTO India has made a number of
commitments

24.  Phased reduction of tariffs: includes non- agricultural
and textile items bound for a period of 10 years.
 Removal of quantitative restrictions: phased removal
from 1997 were commenced with 714 items and 715
items in the exim policy of march 2000 and2001
respectively.
 Liberalization of trade in services: as per GATS 33
service activities have been liberalised depending on
the impact on employment technological
advancement and capital inflow..

25.  TRIPs: to comply with TRIPs amendments were made
in the copyright act, protection to layouts designs and
customs valuations.
 TRIMS: notification in regard to local content
requirements on certain pharmaceutical products and
dividend balancing requirement in case of investment
in 22 categories of consumer items.

27.  Experience has proved that it is favourable to rich and
developed countries and it is not fair to poor and
developing countries.
 WTO is dominated by rich and developed countries of
Europe.
 Certain imbalances and inequities in the WTO
agreement was faced by developing countries.
 Obligations in letter ,spirit of agreements, special and
differential clauses have remained
UNOPERATIONLISED.

28.  At the 4th conference held in DOHA new round
negotiations received a major setback because it did not
address implementation issues first.
 The 5th conference held in CANCUM in Mexico was
without any progress on Doha declaration because it did
not commit the rich countries to phase out their trade
distorting farm subsidies within a time phrase.
 And from this conferences it came out that WTO will not
be allowed to function as undemocratic ,non transparent
and anti people organisation.

29.  The new agreement will lead to FREE and FAIR
TRADE at the global level .
 It is a big victory for the poor countries .
 Another meeting at GENEVA in JULY 31st , 2004 was
held to discuss the concerns of the developing
countries . India was represented by commerce and
Industry minister Mr Kalam Nath .