Some scholars question the usefulness of India being a member of the WTO as a major volume of international trade occurs among the developed nations. They also say that while developed countries file complaints over agricultural subsidies given in their countries, developing countries feel cheated as they are forced to open their markets for developed countries but are not allowed access to the markets of developed countries. What do you think?
While critics argue that globalisation is a strategy for developed countries to expand markets and widen economic disparities, India plays a crucial role within the WTO. India has been in the forefront of framing fair global rules and advocating the interests of the developing world.
The WTO aims to establish a rule-based trade regime to ensure optimum utilisation of world resources. It facilitates international trade by removing tariff and non-tariff barriers. India has kept its commitments towards liberalisation of trade by removing quantitative restrictions and reducing tariff rates. Thus, membership allows India to shape global regulations rather than remaining isolated.
Explanation
The answer addresses the critics' concerns mentioned in the question by using the counter-points provided in the context. The context highlights that despite the criticism that globalisation benefits developed nations, India utilises its WTO membership to advocate for the developing world and frame fair rules. It also mentions India's active compliance with liberalisation (removing QRs, reducing tariffs) and the WTO's core objective of establishing a rule-based regime, providing a balanced view suitable for a 3-mark answer.