The following are the gains that India has achieved by joining WTO:

Import and Export

Import & export of goods & services, India’s share of total world exports of goods and commercial services increased from 0.6 percent in 1995 to 0.86 percent in 2001, while its total world imports of goods and commercial services increased from 0.78 percent in1995 over the same period to 0.99 percent.

Export of Textile Clothing

Under a WTO agreement known as the Multi-Fibre Agreement (MFA), all quotas in trade in textiles and clothing will end on January 1, 2005. Until now, the WTO agreement required member countries to phase out their existing quotas by December 31, 2004. It further prevented them from expanding the quota size every year.

Five years ago, Indian economists feared that the country’s textile sector would be overtaken by China. But recent reforms in the industry have given hope. India could see a40 to 100 percent increase in apparel exports ($6.7 billion in 2001). The target of $50billion in textile and apparel exports by 2010 is no longer a pipe dream.

Profit from the export of Software Services

Further, the WTO Free Trade Agreement in Services has made India a world leader in software services, which contribute greatly to foreign exchange earnings and employment generation for Indians.

Big BPO Earnings

BPO (Business Processing Outsourcing Services) from the USA and UK is coming to India, which has enabled us not only to earn foreign exchange but also to create a lot of job opportunities for educated Indian youth.