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India Opposes WTO Investment Deal Amid Isolation Risk Why in the News ? Ahead of the 14th WTO Ministerial Conference (MC14) in Cameroon, India is opposing the China-backed Investment Facilitation for Development (IFD) Agreement, risking diplomatic isolation as over 128 WTO members support it, raising concerns about multilateralism and equity. India’s Opposition to IFD Agreement: …
Read MoreINDIA LIKELY TO OPPOSE PERMANENT WTO MORATORIUM ON E-TRANSMISSION DUTIES Why in the News? WTO Negotiations: India set to oppose US proposal for permanent moratorium on customs duties on electronic transmissions. Policy Divide: Issue to be discussed at WTO Ministerial Conference (MC14) amid developed–developing country differences, reflecting broader debates on sustainable development and pollution free …
Read MoreExplore major international organizations and their roles in global governance, peace, and development. Essential for UPSC GS Paper 2, this topic covers the UN, WTO, IMF, World Bank, and more.
Read MoreSyllabus: GS – 3– Global trade , Role of WTO , Bilateral relations between countries Focus : This article examines the decline of the World Trade Organization (WTO) as a robust multilateral trade referee, highlighting the persistent paralysis of its Appellate Body, the shift in global power dynamics with China’s rise, and the resurgence of …
Read MoreIntroduction and Evolution Timeline of the WTO Establishment of GATT and ITO The General Agreement on Tariffs and Trade (GATT) was founded in 1947 as the cornerstone of the multilateral trading system. The foundation of GATT was laid during the Bretton Woods Conference in 1944, alongside the establishment of the International Monetary Fund (IMF) and …
Read MoreWhy in the news? Global trade is set to rebound in 2024, with increased consumption demand in advanced economies, despite lowered growth forecasts. Source:eduprep About Global Trade Outlook: The World Trade Organisation (WTO) forecasts a rebound in global trade volumes in 2024. Consumption demand is set to increase in advanced economies, driving growth after a …
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