The guiding principle of GATT agreement is ______.

Trade Discrimination

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Protection of domestic industry

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Most Favoured Nation (MFN)

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High tariff regime

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Solution

The correct option is C Most Favoured Nation (MFN)
GATT stands for General Agreements on Tariffs and Trade. It was drafted in 1947 as a provisional agreement to regulate international trade. The guiding principle of GATT agreement is Most Favored Nation. India is a founding member of GATT.

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