Meeting the challenge of a borderless economy needed a strategic shift ?

Abstract

The formation of WTO six years ago is likely to have not only major impact on the economic activities of India, but may have much wider ramifications for the Indian society. The basic objective of the WTO is a creating a border less economy, which means allowing free access to global players in various economic activities: such as reduction in tariff and other protectionist measures (including modification in government policies and various Acts as and where required). The WTO shall also lay emphasis in enforcement of agreements in a timely manner. The agenda is likely to widen in future covering other issues like environment and labour etc. It requires a major, paradigm shift in India's approach in handling development policies as it call for meeting an open challenge of global players in home ground. Is India ready to face the challenge? The successive governments in India have been taking various measures since the enunciation of the liberalisation and globalisation policies by Nara...