Impact of World Trade Organization on Indian Textile Industry

  • J. R. Dikshit 1 Vishveswarya Group of Institutions, Gautam Budh Nagar (U.P.), India
  • P. C. Basa Lingaya’s University, Faridabad (Haryana), India
  • Kamal Vagrecha Indira Gandhi National Open University, New Delhi, India

Abstract

No country in the world is self-sufficient. Therefore, there is need to trade with others. Economy was protected from external competition due to licensing system and high level of tariff.
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. The Most Favoured Nation clause of WTO was in clash
with the Multi Fibre Agreement (MFA), which placed quantitative restrictions on textile exporting countries. Hence MFA was gradually phased out by December 31, 2004.

Published
2020-03-25
How to Cite
J. R. Dikshit, P. C. Basa, & Kamal Vagrecha. (2020). Impact of World Trade Organization on Indian Textile Industry. Global Journal of Enterprise Information System, 7(1), 35-44. Retrieved from https://gjeis.com/index.php/GJEIS/article/view/412
Issue
Vol. 7 No. 1 (2015): IT Penetration in enhancing culture of CLEAN ‘n’ GREEN in an Enterprise
Section
Case Study Based Papers (CSBP)

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