Argument in favour of world trade organisation by india
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Promote free trade through gradual reduction of tariffs.
Provide legal framework for negotiation of trade disputes. This aims to provide greater stability and predictability in trade.
Trade without discrimination - avoiding preferential trade agreements.
WTO is not a completely free trade body. It allows tariffs and trade restrictions under certain conditions, e.g. protection against 'dumping' of cheap surplus goods.
WTO is committed to protecting fair competition. There are rules on subsidies, dumping
WTO is committed to economic development. For example, recent rounds have put pressure on developed countries to accelerate restrictions on imports from the least-developing countries.
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