Agriculture in the WTO and Rural Development

Abstract

"Agriculture has been a major occupation of the Indian people since ancient times. Today 65% of the population is dependent on agriculture in various ways. The backbone of agriculture, once considered the backbone of the Indian economy, is crumbling today. The main reason for this is the neglect of agriculture by the government system and the newly started process of globalization. The rural economy that has survived is now on the brink of collapse due to the globalization process in agriculture, which is the only component of agriculture. By signing the WTO Agreement on January 1, 1995, India incorporated the agricultural sector into the process of globalization. In this regard, a secret agreement was reached between India and the United States on December 16, 1999, and India had to lift the numerical restrictions on its protected 715 agricultural commodities. The concept of globalization has been realized through the GATT Agreement, the Dunkel Proposal, the World Trade Organization, the International Monetary Fund, and the World Bank."