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To present the context of the relationship of India with WTO it could be said that India has been a founding member of the WTO when it was started long way back in 1970 s and besides this fact India has always been in favour of multilateral trading with the other countries of the world. In order to achieve the gains from WTO the government of India has announced the Export-Import policy 1992-1997 to liberalize trade and boost domestic manufacturing sector. The ministry of commerce of the Government of India expects that by WTO India would benefit by creating 10 million additional jobs annually and India’s market share in world exports would improve.With the advent of advanced technology would be obtained at low cost and besides this because of wide arrangement for resolving trade disputes under WTO, India would be in a better position to get quick redressal of the trade disputes, if any. The scope of creating more job would be expanded. The Indian exporters have deficient market information, this can be removed by the help of WTO and country can get wider market information, and eventually due to increasing competition and exposure the competitive edge and productivity of Indian industry will improve.A Federation of Indian Chamber of Commerce and Industry (FICCI) Task Force reports (March 1996) on WTO, rightly observed that in changing scenario there is no alternative to Indian industry but to gear up itself to raise the efficiency and competitiveness, so that India is able to meet the competition in both, the domestic and external markets. By, this, under certain areas like agricultural and allied exports, textiles and trade in services India can meet not only the challenges and will be able to exploit opportunities successfully when developed countries will co-operate to share the fruits of growth and openness in the new world trade order.About 67 per cent of its tariff lines were bound. For non-agriculture goods, with a few exceptions ceiling bindings of 40 per cent and 25 per cent on intermediate goods have been undertaken. The phase of reduction is extended to the year, 2005.