Explain any 5 impacts of WTO on indian economy.

1) Though WTO is supposed to allow free trade for all, WTO rules have forced the developing countries to remove trade barriers due to which Indian agriculture has not benefitted much.
2) MNCs have increased their investments in India over the past 20 years, creating new jobs and ancillary industries.
3) Several of the top Indian companies have been able to benefit by investing in newer technology and production methods and raising their production standards.
4) Large Indian companies to emerge as multinationals themselves.
5) New opportunities for companies providing services, particularly those involving IT have been created. A host of services such as data entry, accounting, administrative tasks, engineering are now being done cheaply in India.

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