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India became a signatory to the Marrakesh Agreement, leading to the formation of the World Trade Organization (WTO), in which year?
1991
1994
1995
1998
1994
India signed the Marrakesh Agreement on April 15, 1994, which paved the way for the establishment of the World Trade Organization (WTO). This agreement concluded the Uruguay Round of multilateral trade negotiations, formally replacing the General Agreement on Tariffs and Trade (GATT).
India signed the Marrakesh Agreement on April 15, 1994, which paved the way for the establishment of the World Trade Organization (WTO). This agreement concluded the Uruguay Round of multilateral trade negotiations, formally replacing the General Agreement on Tariffs and Trade (GATT).
The WTO is the successor to the GATT (1947), and it operates under the principles of Most Favoured Nation (MFN) and National Treatment as defined in its core agreements.
The Marrakesh Agreement was signed at the Marrakesh Ministerial Meeting held in Morocco.
The World Trade Organization (WTO) officially commenced its operations on January 1, 1995.
India has been a member of the GATT since 1948 and became a founding member of the WTO in 1995.
The Uruguay Round (1986тАУ1994) was the largest trade negotiation ever, covering services, intellectual property, and agriculture.
The WTO headquarters is located in Geneva, Switzerland.
Option A (1991) marks the year of India's major Economic Liberalization (LPG reforms), which aligns with the global shift toward trade integration.
Option C (1995) is the year the WTO officially began operations, but the signing of the Marrakesh Agreement occurred in 1994.
B is correct тАФ India signed the Marrakesh Agreement in 1994, which led to the formal establishment of the World Trade Organization in 1995.
Link this to the 1991 LPG reforms in India; the shift from a closed economy to a globalized one necessitated India's entry into the WTO framework to secure trade benefits and dispute resolution mechanisms.