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2.4.2. Indian Agriculture Subsidies and WTO

India had signed Agreement on Agriculture of WTO expecting that it would:

reduce the domestic support given by OECD countries to their respective agricultural sectors

increase the prices of agricultural products in international markets

improve export prospects for India.

But, to its surprise, the agricultural prices went down, putting agricultural countries like India at disadvantage.

 

The agreement is heavily loaded in favour of developed countries due to following reasons: