The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations.
At its heart are the WTO agreements, negotiated and signed by the bulk of the world·s trading nations and ratified in their parliaments.
The goal is to help producers of goods and services, exporters, and importers conduct their business.
India
does not stand to gain much by shouting for agriculture reforms in developed countries because the overall tariff is lower in those countries. India will have to tart major reforms in agriculture sector in India to make Agriculture globally competitive. Same way it is questionable if India will be major beneficiary in dismantling of quotas, which were available under MFA for market access in US and some EU countries. It is likely that China, Germany, North African countries, Mexico and such others may reap benefit in textiles and Clothing areas unless India embarks upon major reforms in modernization and up gradation of textile sector including apparels.
The provisions of W.T.O offered ample opportunities to India to expand its export market. 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 value.
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 significant and could not be sustained in the post W.T.O period whereas imports remarkable than post W.T.O period and the rising export trend rose steadily.
for major investments in R &D and mergers and restructuring of companies to make them world class to take advantage. India has already amended patent Act and both product and Process are now patented in India. However, the large number of patents going off in USA recently, gives the Indian Drug companies windfall opportunities, if tapped intelligently. Some companies in India have organized themselves for this.
In Pharma-sector there is need
The General Agreement on Trade in Services (the ´GATSµ) was one of the most important achievements of the Uruguay Round of negotiations that led to the creation of the World Trade Organization (the ´WTOµ). In 2001, international trade in services constituted approximately $1.450 trillion which represents almost 20% of total global trade in goods and services combined. Telecommunication services are important not just because annual telecommunications revenues run into hundreds of billions of dollars a year and a significant proportion of global GDP but also because they enable the supply of other types of services as well as the production of goods.
Predominance of developed nations in negotiations extracting more benefits from developing and least developed countries. Resource and skill limitations of smaller countries to understand and negotiate under rules of various agreements under WTO. Incompatibility of developed and developing countries resource sizes thereby causing distortions in implementing various decisions.
Non-tariff barriers being created by developed nations. Dismantling of MFA (Multi Fiber Agreement) and its likely impact on countries like India. Under TRIPS question of high cost of Technology transfer, Bio Diversity protection, protection of Traditional Knowledge and Folk arts, protection of Bio Diversities and geographical Indications of origin, for example Basmati, Mysore Dosa or Champagne. The protection has been given so far in wines and spirits that suit US and European countries.
The most important things for India to address are speed up internal reforms in building up world-class infrastructure like roads, ports and electricity supply. India should also focus on original knowledge generation in important fields like Pharmaceutical molecules, textiles, IT high end products, processed food, installation of cold chain and agricultural logistics. India's ranking in recent Global Competitiveness report is not very encouraging due to infrastructure problems, poor governance, poor legal system and poor market access provided by India.
Our tariffs are still high compared to Developed countries and there will be pressure to reduce them further and faster. India must improve legal and administrative infrastructure, improve trade facilitation through cutting down bureaucracy and delays and further ease its financial markets. Corruption will also have to be checked by bringing in fast remedial public grievance system, legal system and information dissemination by using e-governance. The petroleum sector has to be boosted to tap crude oil and gas resources within Indian boundaries and entering into multinational contracts to source oil reserves.
The Agreement on Trade Related Investment Measures (TRIMS) applies only to measures that affect trade in goods. It recognizes that certain measures can restrict and distort trade, and states that no member shall apply any measure that discriminates against foreigners or foreign products. It outlaws investment measures that lead to restrictions in quantities. It also discourages measures that limit a company·s imports or sets targets for a company to export.
The Agreement on Trade Related of the Intellectual Property Rights (TRIPS) of the WTO, which came into effect on 1 January 1995, is to date the most comprehensive multilateral agreement on intellectual property. WTO and TRIPS set the minimum level of protection and enforcement provision, every member country must provide to a right holder. All the countries that are a part of GATT/WTO have to comply with the TRIPS text. Under Article 65.2 of TRIPS, India as a developing country has fallen under the WTO commitments after 1 Jan 2000.
Patents are one of the oldest forms of intellectual property protection and the aim of a patent system is to encourage economic and technological development by rewarding intellectual creativity. Patent under the Act is grant from the Government to inventor, for a limited period of time, the exclusive right to make, use exercise and vend invention. The purpose of patent is to provide a form of protection for technological advances.
Patents are intended for breakthroughs in technology, but they are also intended for small technological increments. The advantage of taking out a patent are that the owner of a patent can exclude all others in the territory covered by the patent from making, using, selling or importing the invention. When the patent rights expire, the technology becomes public property, and the public is free to use it for their own good.
PRESENTED BY-
APURVA PANDE DIVISHA BHAGAT HEMLATA BHAGTANI
