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IMPACT OF W.T.O ON INDIAN AGRICULTURAL SECTOR

IMPACT OF W.T.O ON INDIAN AGRICULTURAL SECTOR

Discuss IMPACT OF W.T.O ON INDIAN AGRICULTURAL SECTOR within the Business Environment (B.E) forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; IMPACT OF W.T.O ON INDIAN AGRICULTURAL SECTOR Abstract Trade is an engine of economic development. The establishment of W.T.O is ...

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IMPACT OF W.T.O ON INDIAN AGRICULTURAL SECTOR
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IMPACT OF W.T.O ON INDIAN AGRICULTURAL SECTOR Abstract
Trade is an engine of economic development. The establishment of W.T.O is an important landmark in the history of international trade. When developing countries were liberalizing their economies, they felt the need for better export opportunities. The W.T.O provides opportunities for countries to grow and realize their export potentials, with appropriate domestic policies in place. The issue of globalization in the Indian context has occurred in the patterns of trade and capital flow in recent years; unfortunately, so far we have not made much use of it. At one time a country’s trade pattern was determined by its natural resources and the productivity of its land. Leaving aside political and institutional factors, a country’s level of income was also largely determined by the global demand for its natural resources and its relative efficiency in exploiting them. The importance of land as a source of comparative advantage, however, changed dramatically after the industrial revolution. Today, it is almost insignificant. After the industrial revolution, the availability of “capital” became the most dominant source of comparative advantage.

India will be able to expand its exports of agricultural products in which it has tremendous comparative advantage. The provisions of W.T.O offered ample opportunities to India to expand its export market. Contrary to this, the price situation changed dramatically after 1996, which was the first year after implementation of Urguay Round Agreement and formation of W.T.O. International price of agricultural commodities have since then plummeted, because of which domestic price turned higher than international price, which made India an attractive market for import of most agricultural commodities. This situation resulted in a wide spread decline in agricultural export and had also pressure on domestic prices. The impact of W.T.O on agriculture was severely felt by India as cheap imports have frequently hit the Indian market, causing shock waves among the agriculture producers. The changes in agricultural exports reveal that during pre W.T.O period the increase was significantly remarkable than post W.T.O period and the rising export trend could not be sustained in the post W.T.O period whereas imports rose steadily. The agricultural products from India can be made competitive in international market and the prices of agricultural goods in the domestic market can be improved by taking serious steps of reform.

“Globalize or Perish” is now the buzzword synonymous to “Do or Die” which conveys that there is no alternative to globalization and everybody should learn to live with it. India, being a signatory to the agreement that led to W.T.O, can no way step backwards. This is not the time to curse the darkness but to work for making India emerge as a global market leader.
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Re: IMPACT OF W.T.O ON INDIAN AGRICULTURAL SECTOR - December 11th, 2008

hi
its gd
any one can find it very useful for his/ her study
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Re: IMPACT OF W.T.O ON INDIAN AGRICULTURAL SECTOR - December 18th, 2008

Nice work dude...ur post is totally useful.
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Re: IMPACT OF W.T.O ON INDIAN AGRICULTURAL SECTOR - December 18th, 2008

The global agriculture trade regime under the World Trade Organization
(WTO), that came into force 10 years ago in 1995, has led to an increase in
the import of farm products into India rather than boosting exports.

Barring the first three years after the enforcement of the agreement,
agriculture imports continued to grow faster than exports. Between 1998 and
2000-01, the average annual import of farm products rose by about 64 per
cent, while exports declined by 7 per cent. Though the last two years have
seen some buoyancy in farm exports, imports have also continued to grow.

The impact of the WTO on India's agriculture has been studied by Dr Ramesh
Chand, acting director of the Delhi-based National Centre for Agricultural
Economics and Policy Research (NCAP). He has found that the first three
years, after the implementation of the WTO agreement, witnessed a major
spurt in agriculture exports.

The study estimates that the annual import of agriculture goods rose from
$1,190 million in the three years preceding the WTO to $1,996 million in the
first triennium after the WTO. In the same period, exports increased from
$3,725 million to $6,530 million. But, this favourable trend in the initial
years of the WTO did not last long and the next three years witnessed a
whopping rise in imports and a slight decline in exports.

The study attributes the slow-down on agro-exports and sharp rise in imports
to the decline in global prices of almost all major agriculture commodities
after 1997.

This crash was due partly to the cyclical nature of international prices and
partly due to increased global competition in agro-export because of
liberalising trade. The situation was aggravated by an increase in the
already high farm subsidies in the developed countries.

The Indian non-Basmati rice and wheat could not face global competition. The
export of oilmeal, the second biggest export item after marine products,
also suffered a set back due to a decline in global prices.

The export earnings from traditional export commodities like tea, coffee,
spice and tobacco suffered mainly due to a sharp fall in international
prices, as the quantum of exports in most cases did not drop.

Exports of marine products, livestock and horticulture items maintained the
tempo of growth that was build up in the pre-WTO period. This implies that
the post-WTO situation was favourable for the export of high-value food
products.

In case of imports, liberalisation of trade in the initial years after the
WTO did not result in any perceptible spurt because global prices were high.
But subsequently, when global prices began to fall, India's imports started
rising. The level of imports nearly doubled in the three years between
1996-97 and 1999-2000. This downturn in global prices continued even in the
subsequent years.

The international prices of cereals in the years 2000 and 2001 were almost
half of what they were in the beginning of the WTO-era.

The composition of items in the import basket indicates that edible oils
accounted for the bulk of the increase in total agro-imports. The other
items clocking significant increase in imports include pulses, spices,
cotton, wood and wood products.

The study has also revealed that the spurt in the imports vegetable oils,
and wood and its products has depressed their domestic prices, adversely
impacting indigenous production.
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Re: IMPACT OF W.T.O ON INDIAN AGRICULTURAL SECTOR - March 17th, 2009

hi friends can u plz mail me this report on my id [email address] plz do it i am in grt need of it i will be very thankful for ur help buddy plz....
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Re: IMPACT OF W.T.O ON INDIAN AGRICULTURAL SECTOR - January 13th, 2010

He Friends i could not download the file could any one send me the .ppt on "Impact of WTO upon India"
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Re: IMPACT OF W.T.O ON INDIAN AGRICULTURAL SECTOR
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Re: IMPACT OF W.T.O ON INDIAN AGRICULTURAL SECTOR - 3 Weeks Ago

hey thanks for the information, they r very helpful
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