India And Its Approach Towards International Trade Law
- IJLLR Journal
- Jul 29
- 2 min read
Gokul K, Gujarat Maritime University
Introduction
India is one of the most important economies in the world today, home to more than 1.4 billion people. Rapid industrialization, growing involvement in international markets, and notable changes to its trade policy have all contributed to its economic expansion. India's economic rise has been largely attributed to international trade, and the nation has gradually assimilated into the world economy. However, a careful balancing act between historical legacies, developmental aspirations, and strategic foreign alignments drives India's relationship with international trade law, which is not just one of passive compliance. The dynamic interaction between safeguarding domestic interests, promoting economic progress, and competing internationally in an increasingly interconnected world has defined India's experience with international trade law.
With a focus on India's historical background, interactions with the World Trade Organization (WTO), membership in important trade agreements, role in dispute resolution procedures, and the main trade policy concerns it faces, this article explores India's path in international trade law. We may learn more about how India manages the intricate web of international trade laws while striking a balance between its duties to the world and its domestic interests by looking at these aspects.
Historical Context of India's Trade Policies
India's colonial heritage has a significant influence on its connection with global trade. India's natural resources, agricultural output, and textile industry made it the hub of international trade routes for millennia. India's trade environment was drastically changed by the entry of European colonial powers, especially the British East India Company. By restricting India's native industries and promoting the export of raw commodities like cotton and tea to support British industries, the British colonists reoriented India's economy to meet the demands of the British Empire. India's industrial development was hampered by this exploitative structure, which also had a long-lasting effect on its trade policy after independence.
