World Trade Organization and Global Trade Regimes Definition, Types, Examples & Uses

World Trade Organization and Global Trade Regimes

Subject: Economics

Book: Comprehensive Indian Economy

The WTO sets multilateral trade rules, resolving disputes and reducing barriers. India, a founding member, balances developing-country interests with progressive liberalization. Key issues revolve around agricultural subsidies, intellectual property rights, and e-commerce rules. Understanding the Doha Development Agenda and India’s stance on public stockholding for food security is crucial for mains. Additionally, note preferential trade agreements (RCEP, EU-FTA) and how they differ from full-fledged WTO obligations. Exam questions may probe how India navigates global trade tensions or uses “special and differential treatment” provisions to safeguard domestic sectors.