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
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
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: © 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.