Dispute Settlement Mechanisms in WTO Indian Perspective

Abstract

Disputes and differences has always been an integral part of human society. It is with the advance of World War II; the concern for having a unified system for regulating the global trading system was felt. It was in the Bretton Woods Conference the proposal was tabled for establishing an International Trade Organisation. The very objective of this organisation was to regulate international trade but unfortunately this organisation couldn t sustain long. The charge for achieving the very objective of this organisation was further been carried out by the GATT. This became the principle agreement for regulating the multilateral trading system for almost three decades. newlineHence, with the increasing participation of the nation in international trade the complexities also grew with the passing time. There were the provisions in the GATT mandated to regulate the trading system but however it couldn t fare the interest of the developing member nation to the fullest because of certain drawbacks and deficiencies within it. Hence with the aim and intention of revitalizing and regulating the global trading system the whole new organization was established in the Uruguay Round negotiation i.e. World Trade Organization. Perhaps it was in this round of negotiation the new charter of Understanding on Dispute Settlement was brought up which strengthen the WTO Dispute Settlement Mechanism. It shouldn t be misunderstood that, with the establishment of the WTO, the prospects of GATT were loss. Rather the provisions of dispute settlement under GATT were further revitalised with under the WTO regime. newlineThis thesis highlights as to how the dispute settlement system is structured and what are the emerging problems and shortcomings which WTO Dispute Settlement System is struggling with and how it has affected the developing nations. This work highlights some reform measures for restructuring the Dispute Settlement System with the aim of making the WTO Dispute Settlement System more effective and efficient multilateral trading organizatio