Abstract: After accepting membership in WTO, Russia will have a positive impact in boosting its bilateral trade with India which was hovering around 10 billion dollars a year. It was bright spot amid the turbulence in the European economy due to Russia’s formal accession into the World Trade Organization after 18 years of negotiations. According to Foreign Secretary Ranjan Mathai the Russian entry in to WTO will have a positive impact on bilateral trade and investment with India. Indian Prime Minister has welcomed Russia’s entry in to the WTO. Indian and Russian officials during talks between Prime Minister Singh and President Dmitry Medvedev in Moscow were one in agreeing there is a huge potential to expand bilateral trade. Although declining the tariff rates for imported goods ever since Russia first began its transition to a market economy 20 years ago, Russian membership of WTO will further accelerate the process of trade.
In present study the researcher has analyzed the pre and post Indo-Russian trade performance in respect of Russian entry in WTO (Aug. 2012). For analyzing researcher used twelve month as pre (Aug. 2011-Jul. 2012) and post (Aug.2012-Jul.2013) Indo-Russian trade data. For analyzing researcher used test of significance for export, import and balance of trade significantly and proved the mentioned hypothesis at 95 %, 90% and 85% confidence level respectively.
Title: Impact of WTO on Indo-Russian Trade Performance since Russian Entry in WTO
Author: Manmohan singh, Nikhil Kumar
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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