Entering into Free Trade Agreements (FTA) will help countries to access and expand into new markets, increase investments, and increase the GDP of the nation. FTA will make the local industries more competitive. FTA’s will reduce subsidies from the Governments. You can read about the WTO – World Trade Organization – History, Functions, Conferences, Dispute Settlement in the given link.
However, it also must be noted that Free Trade Agreements are not devoid of demerits.
- India and the WTO – An Overview of Latest Developments
- India – US Trade Relations: RSTV – Big Picture Analysis for UPSC IAS exam