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New Economic Policy (NEP) or the economic reforms package was injected in the Indian economy 1991. A controversy is tabled for discussion even today as to thwther the NEP is enhthusiastically acceptable to Indian farmer, the rural petty manufactures and the class of craftsmen? As a founder member of GATT now WTO, India formally accepted it and took to for granted that Indian Farmers and rural industry-men would be, by and large. Gainers. Finally the Uruguay ...
The increasingly felt need to expand world trade at still faster pace led to installation of WTO, replacing the former arrangements under GATT. It has much greater coverage and precise and details of trade governance for the benefit of trade entering parties. Today, liberalization privatization and globalization are the basic features of trade related policies, which has compelled the member countries to remove the trade barriers for enhancing the size of foreign ...