V Basil Hans*

Professor in Research at Srinivas University in Mangalore Institution, India

*Corresponding Author: V Basil Hans, Professor in Research at Srinivas University in Mangalore Institution, India.

Received: December 14, 2023; Published: January 03, 2023

Abstract

The three interconnected parts of the Indian economy that are discussed in this article are Indian agriculture, terms of trade, and the function that the World Trade Organization plays in Indian agriculture. It has been said that international agricultural trade is something that cannot be explained, that it is extremely frustrating, and that it is the most skewed sector of the world economy. There are several different areas of international and domestic law that are involved in international agricultural trade. These areas include international treaties and agreements, domestic trade legislation, and general policy decisions. The vast and complex field of international agricultural trade is the subject of this review, which focuses on three basic themes within that field. In this section, we also talk about certain significant crops. A movement of income from the industrial sector to the agricultural sector will occur as a result of terms of trade that make the agriculture sector more advantageous. The overall savings of the economy may be impacted as a result of this. Because of this, the formation of capital will be negatively impacted. Without a shadow of a doubt, a portion of the additional money from agriculture can be collected through taxation. The agreement reached by the World Trade Organization (WTO) on agriculture has resulted in substantial changes, such as the reduction of trade barriers and domestic subsidies. However, there are still certain problems that are affecting Indian agriculture and have not yet been resolved. One of these problems is the patenting of plant types.

Keywords: Agriculture; Crops; India; Terms of Trade; The World Trade Organization

References

1. IMF (2017).
2. Sen A. “The year 1981. Oxford University Press "Poverty and Famines: An Essay on Entitlement and Deprivation (1981).
3. Gupta K., et al. “In the book titled "Trade, Food Security, and Human Rights: The Rules for International Trade in Agricultural Products and the Evolving World Food Crisis". the publication has an article titled "India's Trade Policy Choices: Managing Diverse Challenges." Publishing company Ashgate (2011).
4. Chand R. “The Institute for Studies in Industrial Development in New Delhi published an article titled "International Trade, Food Security, and Response of Indian Agriculture (2017).
5. Birthal PS., et al. “Vertical coordination in high-value food commodities: Implications for smallholders is the title of MTID Discussion Paper 85, Published by the International Food Policy Research Institute (IFPRI) (2007).
6. Gulati A and Saini S. “What can India learn from global trends regarding price volatility, trade, and the welfare of farmers?" Discussion Paper from the International Food Policy Research Institute (IFPRI) (2014).
7. G Narayanan and A Gulati. “The year 2002. The MSSD Discussion Paper No. 50 is titled "Globalization and the Smallholders: A Review of Issues, Approaches, and Implications”. The IFPRI (2002).
8. Sharma A. "Trade Liberalization, Food Security, and the Environment: The Neoliberal Threat to Sustainable Rural Development”. Transnational Institute for Research (2011).
9. Singh OP and Singh NT. “The journal Journal of Agricultural Science published an article titled "Trade-off between Water, Energy, and Environment in the Indian Context 4.9.
10. https://www.business-standard.com/July 07/2023 10.
11. National Aglaw Center.
12. Hans VB and Prasanna G. “Agricultural Economics, published by HSRA Publications in Bangalore in the year (2023).
13. Gustavo Adler., et al. “Published their findings in February of 2017. “Terms-of-trade cycles and external adjustment are often discussed”. IMF Working Paper (2017).

Citation

Citation: V Basil Hans. “International Trade in Agriculture, Terms of Trade, and the World Trade Organization with Reference to India". Acta Scientific Agriculture 8.2 (2024): 03-15.

Copyright

Copyright: © 2024 V Basil Hans. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.