Question : Which international organization played a significant role in promoting globalization in India?
Option 1: World Trade Organization (WTO)
Option 2: International Monetary Fund (IMF)
Option 3: World Bank
Option 4: United Nations (UN)
Correct Answer: World Trade Organization (WTO)
Solution : The correct answer is (a) World Trade Organization (WTO)
The World Trade Organization (WTO) played a significant role in promoting globalization in India. The WTO is an international organization that deals with global trade rules, negotiations, and dispute settlement. It aims to facilitate the smooth flow of goods, services, and investments across borders, promoting open and fair international trade.
The WTO provided a platform for India to engage in multilateral trade negotiations, resolve trade disputes, and benefit from increased market access for its products and services. The organization played a significant role in shaping India's trade policies, encouraging international trade, and promoting globalization by advocating for open markets and fair trade practices.
