Q. Consider the following statements regarding WTO “Information Technology (IT) Agreement”:
1.It came into force in 1997.
2.India is not a signatory.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: A
Notes:

Explanation: The WTO’s IT Agreement has done little for India’s IT services and India’s hardware sector was hit instead of benefitting from the pact.

  • The ITA was concluded by 29 participants at the Singapore Ministerial Conference in December 1996. It entered into force on 1st July 1997.
  • It seeks to accelerate and deepen the reduction of trade barriers for the critically important ICT industry.
  • India is a signatory to the agreement. The participants are committed to eliminating tariffs on IT products covered by the Agreement.

Source: FORUMIAS

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