What has been the impact of the WTO on Indian economy?

**Impact of the WTO on the Indian Economy**

The World Trade Organization (WTO) has had a significant impact on the Indian economy since India’s entry into the organization in 1995.

1. **Increased Trade**: India’s integration into the global economy has increased, with a rise in both exports and imports. This has been facilitated by the reduction of trade barriers and adherence to WTO trade norms, leading to greater market access for Indian goods and services.

2. **Agricultural Sector**: The WTO’s Agreement on Agriculture has had mixed impacts. While it opened international markets for Indian agricultural products, it also exposed Indian farmers to global competition and price volatility.

3. **Services Sector Growth**: India has benefited considerably in the services sector, especially in IT and ITES, due to the General Agreement on Trade in Services (GATS) under the WTO.

4. **Intellectual Property Rights (IPR)**: Compliance with the WTO’s TRIPS (Trade-Related Aspects of Intellectual Property Rights) agreement has led to stronger IPR enforcement in India, impacting sectors like pharmaceuticals and technology.

5. **Challenges and Disputes**: India has faced challenges in balancing domestic interests with WTO obligations, leading to involvement in several trade disputes, particularly in areas like agricultural subsidies and public food stockholding.

In conclusion, the WTO has significantly influenced the Indian economy, bringing both opportunities and challenges. It has facilitated India’s deeper integration into the global economy but also required adjustments in domestic policies to comply with international trade rules.