Class 11 Economics - Indian Economic Development - Chapter Liberalisation, Privatisation and Globalisation: An Appraisal NCERT Solutions | Why is it necessary to became a member o
Why is it necessary to became a member of WTO?
It is important for any country to become a member of WTO (World Trade Organisation) for the following reasons:
i) WTO provides equal opportunities to all its member countries to trade in the international market.
ii) It provides its member countries with larger scope to produce at large scale to cater to the needs of people across the international boundaries. This provides ample scope to utilise world resources optimally and provides greater market accessibility.
iii) It advocates for the removal of tariff and non-tariff barriers, thereby, promoting healthier and fairer competition among different producers of different countries.
iv) The countries of similar economic conditions being members of WTO can raise their voice to safeguard their common interests.
More Questions From Class 11 Economics - Indian Economic Development - Chapter Liberalisation, Privatisation and Globalisation: An Appraisal
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How is RBI controlling the commercial banks?
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Distinguish between the following
(i) Strategic and Minority sale
(ii) Bilateral and Multi-lateral trade
(iii) Tariff and Non-tariff barriers. - Q:-
Agriculture sector appears to be adversely affected by the reform process. Why?
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Why were reforms introduced in India?
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Those public sector undertakings which are making profits should be privatised. Do you agree with this view? Why?
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Why did RBI have to change its role from controller to facilitator of financial sector in India?
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Do you think outsourcing is good for India? Why are developed countries opposing it?
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Do you think the navaratna policy of the government helps in improving the performance of public sector undertakings in India? How?
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What do you understand by devaluation of rupee?
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Why has the industrial sector performed poorly in the reform period?
Popular Questions of Class 11 Economics - Indian Economic Development
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