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WTO and its impact on small-scale industries in India

WTO and its impact on small-scale industry in India

Introduction

In industry, small-scale plays a key role in the development of the country. It contributes nearly 40% of the gross industrial value added in the Indian economy. It was estimated that a million Rs. investment in fixed assets in small-scale sector produces 4.62 million worth of goods or services with an approximate value of the addition of ten percentage points.

small-scale sector has grown rapidly over the years. The growth rates in different periods of the plan were very impressive. Number of units on a small scale has grown from an estimated million units calculated in the year 1980-1981 to over 3 million in 2000.

From 1947 to 1994, the General Agreement on Trade and Tariffs (GATT) was a forum for negotiating lower customs duties and other trade barriers. World Trade Organization (WTO) was established on 1 January 1995, when GATT became the WTO umbrella, has

annexes dealing with specific sectors such as agriculture and textiles and specific issues such as State Trading, product standards, subsidies and actions taken against dumping. WTO has 148 members, accounting for more than 97% of world trade. About 30 others are negotiating membership.

WTO aims to develop its economy by encouraging its export to the Member States. Also makes it easier for availing new technologies in different countries at lower costs. Therefore, this paper focuses on the positive role played by the WTO in the scenario of globalization.

SSI SECTOR GROWTH IN INDIA

small scale Industries (SSIS) are the pillars of the industrial economy of India. SSIS main objectives are: To remove

regional differences in order to facilitate the equitable distribution of national income and wealth to earn a return on investment in less consumption of produce certain goods and basic commodities.

How SSIS consume local resources, increase

SSIS was quite significant at dawn of the new century. It took into account the fact that there were more than 32 lakhs of small scale units in the organized on March 31, 2000 (Naik: 2002) and amp; (economic survey: 2001).

SSIS require relatively less investment, and enjoys financial support from various financial institutions. They have a number of programs of direct and Auto - Employment. Employment by SSIS significantly increased from 119.6 thousand rupees in the year 1989-1990 to the 178th 5 scam in 1999, "2000. In the following years also also grown in all areas. But he

ORIGIN AND PURPOSE

WTO World Trade Organization (WTO) was established on 1 January 1995 ~ Marrakesh Declaration" of 15 April 1994, confirmed that the results of the Uruguay Round will be ~ Strengthen the global economy and lead to more growth of trade, investment and employment and income in the world. WTO entry is

Results of the Uruguay Round and the successor to GATT. From 1947 to 1994 Agreement General Agreement on Trade and Tariffs (GATT) was a forum for negotiating lower customs duties and other trade barriers. When the GATT became the WTO umbrella, has annexes dealing with specific sectors such as agriculture and textiles and specific issues such as State Trading, product standards, subsidies and actions taken against dumping. WTO aims to develop its economy by encouraging its export to the Member States.

key actors in the WTO, WTO

not only frame the rules for the marketing of agricultural produce, textiles and clothing sectors, but also addresses the work of international standard wages and working conditions of globalized trade and weeds on governmental corruption in government procurement policies. Also makes it easier for availing new technologies in different countries at lower costs.

problems facing the SSI sector

The SSI sector confronts several problems despite its strategic importance in any strategy of industrialization and its huge potential for employment generation.

problem is still big obstacles to the development of the sector is the lack of timely access to credit and appropriate. Abid Hussain Committee SSIS (1997) examined the problems of SSI sector and recommended a package of policies for industrial restructuring in the context of the current global economic change. Committee of Experts was of the opinion that the existing institutional structure for the provision of credit to the SSES needs deep. Nayak Committee approved recommendations and urged the RBI to implement the same. The Committee recommended the restructuring of financial support through SFCs and SIDCs, stub from other sources of funding for the SSES, extending offers of credit rating to small units and the credit needs of tiny units to ensure that they are not bypased

by commercial banking system. General Credit availability for SSIS during 1991-1996 is only 13% of production value.

Nayak Committee recommended the desired norm of 20% of production value to be provided under the working capital loans by establishing institutions and commercial banks a norm of 75% has been set for capital assets to the actual availability is only 55%. Lack of funding was one of the main reasons horses in SSI sector, blocking access to the technological modernization, and other growth opportunities. There is an urgent need to enlarge the flow of credit to SSI sector sources institutional. Creating an environment to facilitate the SSIS will focus on access to credit. The ninth five-year plan (1997-2002) estimated the additional capital funds to Rs. 1420 to 1460 billion for the SME sector. Lowering interest rates down the time frame to clear the loan application and compliance with standards set by the Nayak

are certain minimum measures to be taken.

Legal measures have a role to play in relation to funding and financing of small units. There are measures that can be in principle to remove barriers to accessibility credit. These measures include:

right to a reasonable credit from commercial banks as the RBI guidelines formulated after consultation with the representative of the Board of protection against-normative demands for collateral appeals and enforcement of the Ombudsman / Board of access to public funds under the bills, deposits, securities, Government guarantees for loans from banks

Measures to promote the marketing and competitiveness are as follows:

you exempt from the speedy return of security contract agreement securities in the case with other payment Prompt measures to protect against undue grouping of orders by the State for protection against the restrictive and monopolistic trade practices of the Ombudsman / arbitration services for the enforcement of

positive impact of the WTO

SSIS

After WTO SSIS origin in India uses the following powers: Enabling

India exports to WTO member countries with the smallest restrictions. Reductions in tariffs on products exported to India, ie, based on tariff protection has become the norm.
Exports from India has increased from Rs.13883 INR 1992 to INR Rs.53975 in 2000 in the SSI sector.
Perspectives in exports of agricultural products due to the likely increase in global prices of agricultural products due to the reduction of domestic subsidies and trade barriers. Larger
Radical market-orientation of trade in the SSI sector is opening up new investment opportunities thus speeding up economic growth.
Availability of new technology with other countries at a reduced price.

In India, there have been significant and the absolute gain in trade under the WTO. Exports increased marginally to 30.63 billion USD in 1995 to 44.2 billion USD in 2000 while the share in global trade

rose slightly from 0.6 to 0.65 percent. India was a net gainer, though in a limited way. The increase in Indian exports has been slightly above increase in exports of the world. This shows that the WTO has made a significant contribution to the development of world trade (Somayajulu and amp; Venkataraman: 2002). The conclusion

WTO plays a positive role in enhancing the SSIS. On the other hand, it is feared that many WTO rules are biased and for the benefit of developed countries and are formulated to compel developing countries to open their economies, which would benefit the developed countries and many local industries in developing countries may not succeed, you will not be able to compete with international companies. This may cause an adverse impact on employment opportunities in the country.

High investment, high return! Although this is the reason for the difficulties of our SSIS, can stand by decisive, innovations in products