Impact of world trade organisation on india
World TradeUNFAVOURABLE IMPACT:1) TRIPsProtection of intellectual property rights has been one of the major concerns of the WTO. Asa member of the WTO, India has to comply with the TRIPs standards.However, the agreement on TRIPs goes against the Indian patent act, 1970, in the followingways:• Pharmaceutical sector :Under the Indian Patent act, 1970, only process patents are granted to chemicals, drugs andmedicines. In early 1990's with the birth of World Trade Organization (WTO) India started the process of liberalization of trade. WTO's objective is to ensure new open world trading system to benefit consumers. ABSTRACT: The World Trade Organization (WTO) is a rule based multilateral trading organization which facilitates trade between nations. Its main function is to act as a forum for international cooperation on trade related policies and creation of