THE SENIOR ANALYST
industrial sector and will boost the
competitiveness of Indian products. India needs
to have a proper strategy to avail the
opportunities that the world of multilateral trade
will present. To gain a substantial share of the $1
trillion global GDP enhancement, it will have to
take up this herculean issue on a war footing.
India will have to simplify its customs procedures
to adhere to the WTO guidelines for trade
facilitation. The latest Doing Business report of
the World Bank ranks India at 132 of 189
economies under 'Trading across Borders'. This
implies that there is much room for improvement
to be done in order to make trade in India
facilitative and aligned to global best standards.
The much needed reduction in the much
condemned red tape, corruption in Indian
bureaucratic processes and procedures will
encourage Indian manufacturers and exporters to
put in their best efforts in India’s share in the
global trade. India also stands to gain from the
upcoming trade facilitating norms and guidelines
on non agricultural goods and services as the
contribution of services sector in India’s GDP is
well known.
Jan 2014
world with just and equitable trade which brings
prosperity to every nook and corner of the
planet.
“This is a new year. A new beginning. And
things will change.” ― Taylor Swift
By Priyam
(Faculty of Management Studies-Delhi)
The success in this ministerial conference has
marked the ‘back with a bang’ kind of return of
WTO as the premiere global trade negotiations
forum. The milestone achieved in the ninth
conference has reaffirmed world’s faith in WTO
and its prowess and potential as a worldwide
forum. Building the required roadmap for Bali
Package and its strict and true implementation
should the top priority for WTO. Another path for
WTO would be showcasing a similar tale for the
unchartered and unresolved issues of Doha
round. The world is waiting for more of the path
breaking resolutions especially for Non
Agricultural Market Access (NAMA) and services.
Conclusion of Doha round would need a great
deal of effort and cooperation from WTO and all
its members and then we can finally envision a
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