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The full of WTO isMarks:1
World Trade Organisation
The full form of WTO is World Trade Organisation. It was founded in 1995. It is the successor of GATT.
One of the negative outcome of Globalisation isMarks:1
devastation of local producers
One of the negative outcome of Globalisation is devastation of local producers. Since local producers were unable to compete with cheap imports, the local producers suffered due to globalisation.
Under New Economic Policy 1991, greater emphasis was laid onMarks:1
Explanation:New Economic Policy 1991 emphasised a shift towards private sector because public sector undertakings were not forming well and a number of them were running at losses.
Liberalisation and privatisation has facilitatedMarks:1
Liberalisation and privatisation has facilitated the globalisation. It means integration of the economy of the country with the world economy.
To increase the competitive position of Indian goods in international markets, government removedMarks:1
Explanation:Export duties have been removed to increase the competitive position of Indian goods in the international markets. Removing export duty will encourage exporters to export more goods to other countries.