Which of the following benefits are likely to accrue to India from the World Trade Organisation? I. India’s share in the world trade is to go up from the present 600 million US dollars to 5 billion US dollars by 2000 A.D. II. It will help boost exports of agricultural commodities from India. III. India’s share in the world trade is likely to triple by the year 2000 A.D. Select the correct answer using the codes given below: Codes:

The correct option is D because statement I is factually incorrect while statements II and III represent the projected benefits of the WTO regime for India during the 1990s. Regarding statement I, the figures provided are inaccurate. At the time this question was framed, Indias annual exports were already significantly higher than 600 million dollars, making the projection unrealistic. Regarding statement II, the WTO agreement on agriculture aimed to reduce trade barriers and subsidies in developed nations. This was expected to make Indian agricultural products more competitive in the global market, thereby boosting exports. Regarding statement III, it was a common economic projection during the post 1991 liberalization era that with the implementation of WTO norms and the phasing out of the Multi Fibre Agreement, Indias share in world trade would grow rapidly and potentially triple by the turn of the century. Since statement I is false and statements II and III are valid economic expectations of that period, option D is the correct choice.