During eighth Five year plan, India became a member of the World Trade Organization on 1 January ______.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 1995.
During the Eighth Five-Year Plan, India became a member of the World Trade Organization (WTO) on 1st January 1995. The WTO was established to replace the General Agreement on Tariffs and Trade (GATT) and aimed to create a more structured and institutional framework for international trade. As one of the founding members, India's accession marked a significant step in its integration into the global trading system. The WTO facilitates trade negotiations, administers trade agreements, and provides a platform for resolving trade disputes among its members, which now include 166 countries as of 2024.