Write a note on General Agreement of Trade and Tariff (GATT) in Intern

1.	Write a note on General Agreement of Trade and Tariff (GATT) in International Trade.
Answer» General Agreement on Tariffs and Trade (GATT): In 1948,23 nations also known as founding members established the General Agreement on Tariffs and Trade (GATT) in Geneva. India was one of those 23 nations. The main aim of this agreement was to remove barriers from international trade by reducing tariffs, boost international trade and encourage distribution of regional labour. The policies established under GATT encouraged free-trade i.e. liberalization and globalization. Under GATT, Government of India made several agreements with different countries so that Indian industries can join hands with industries of those countries and make progress. Due to GATT, many modern fields of trades emerged in India.

Write a note on General Agreement of Trade and Tariff (GATT) in International Trade.

Answer»

General Agreement on Tariffs and Trade (GATT):

In 1948,23 nations also known as founding members established the General Agreement on Tariffs and Trade (GATT) in Geneva. India was one of those 23 nations.
The main aim of this agreement was to remove barriers from international trade by reducing tariffs, boost international trade and encourage distribution of regional labour.
The policies established under GATT encouraged free-trade i.e. liberalization and globalization.
Under GATT, Government of India made several agreements with different countries so that Indian industries can join hands with industries of those countries and make progress.
Due to GATT, many modern fields of trades emerged in India.