India is a member of WTO since its formation. The impact of WTO so far or in future is discussed below:

Initially, India’s contribution to world trade was 0.5%. Later, India’s exports increased tremendously due to increase in international trade and as a result of it, India’s contribution in world trade has increase to 1%. Being a member of WTO has helped India to increase its export of readymade clothes. As a member of WTO, India has been able to increase export of its agro products.

Increase in export has reduced the stress faced due to high imports. Increased export will increase foreign exchange and hence ease out foreign exchange pressure built up due to high import. Thus, being a member of World Trade Organization India has got and will get several benefits in international trade.

However, it should be noted that to gain these benefits India has to agree to some conditions of WTO and follow its mandate. The extent of these benefits depends on the speed with which India increases its infrastructural facilities and how developed countries treat India.