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    Effect of WTOGATT On Indian SSI

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    Jeyarajasekar Ttr
    The document discusses the effects of WTO and GATT on Indian small-scale industries (SSI). It states that the effects have been more negative than positive. Key impacts include: the removal of import quotas and tariffs which increased competition for SSI; reduction in protected items favoring SSI; and tightened intellectual property laws discouraging copying of foreign products. However, WTO also provides SSI access to global markets and benefits service industries and environmental/labor standards.

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    Effect of WTOGATT On Indian SSI

    Uploaded by

    Jeyarajasekar Ttr
    4K views1 page
    The document discusses the effects of WTO and GATT on Indian small-scale industries (SSI). It states that the effects have been more negative than positive. Key impacts include: the removal of import quotas and tariffs which increased competition for SSI; reduction in protected items favoring SSI; and tightened intellectual property laws discouraging copying of foreign products. However, WTO also provides SSI access to global markets and benefits service industries and environmental/labor standards.

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    Effect of WTOGATT on Indian SSI

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    The document discusses the effects of WTO and GATT on Indian small-scale industries (SSI). It states that the effects have been more negative than positive. Key impacts include: the removal of import quotas and tariffs which increased competition for SSI; reduction in protected items favoring SSI; and tightened intellectual property laws discouraging copying of foreign products. However, WTO also provides SSI access to global markets and benefits service industries and environmental/labor standards.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    4K views1 page

    Effect of WTOGATT On Indian SSI

    Uploaded by

    Jeyarajasekar Ttr
    The document discusses the effects of WTO and GATT on Indian small-scale industries (SSI). It states that the effects have been more negative than positive. Key impacts include: the removal of import quotas and tariffs which increased competition for SSI; reduction in protected items favoring SSI; and tightened intellectual property laws discouraging copying of foreign products. However, WTO also provides SSI access to global markets and benefits service industries and environmental/labor standards.

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    of 1

    Effect of WTO/GATT on Indian SSI

    WTO stands for World Trade Organization while GATT stands for General Agreement
    for Trade & Tariffs. The effects of WTO and GATT on the Indian SSI's have been more
    bad than good. They can be summarized as under:

    1. Many important quotas have been removed. This allows importing any
    quantity of foreign raw materials and goods for local processing and
    consumption. This means one of the protections given to SSI is lifted.
    2. Important tariffs were reduced which again allowed a higher quantity of
    foreign products into the Indian markets.
    3. Removal of quantitative restrictions on import in 2001 and all export subsidies
    in 2003, made every industrial unit, small or large, export-oriented or domestic
    oriented, face intense competition.
    4. Out of 812 reserved items that were listed in favour of SSI, 586 items were
    removed and placed on the OGL (Open General License) list of imports. This
    again reduced protection to smaller sector. The number of reserved items now
    stands at 114.
    5. Patent Laws were tightened through regulation of Intellectual Property Rights.
    This discouraged Indian Companies from imitating or downright copying of
    foreign products.
    6. On the other hand, WTO has given many Indian SSI units, a platform to
    market their products anywhere in the world, especially with the help of internet.
    7. Enlightened entrepreneurs who had a feel of the world wide market benefited
    from WTO.
    8. Service sector in India has been especially benefited by WTO and has already
    captured 25% of Indian total exports.
    9. WTO has also introduced anti-dumping, strict labour standards, environmental
    safety and other safeguard measures which benefits mankind as a whole.
    _________________

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