Sample Solution

from reports issued by panels in disputes brought by WTO members. The Appellate Body can uphold, modify or reverse the legal findings and conclusions of a panel, and Appellate Body Reports, once adopted by the Dispute Settlement Body, must be accepted by the parties to the dispute. The Appellate Body has its seat in Geneva, Switzerland.

India – Member of World Trade Organization.

India played an important part in establishment of GATT and then in the establishment of the WTO. India became a member of the World Trade Organization since 1 January 1995 and a member of GATT since 8 July 1948. India is in favor of the governance of international trade which is based on international rules and regulations. It is evident to state that India strongly believes that trade lead to prosperity and the trade based on rules and regulations will lead to good predictability. It further believes that trade will not only benefit its economy but it will also benefit all the members of the WTO.

DISPUTE SETTLEMENT BODY

Dispute settlement is the central pillar of the multilateral trading system, and the WTO’s unique contribution to the stability of the global economy. Without a means of settling disputes, the rules-based system would be less effective because the rules could not be enforced.

Under the 1947 General Agreement on Tariffs and Trade, the early cases were decided by rulings of the Chairman of the GATT Council and later were referred to working partied composed of representatives from all interested member who adopted their reports by consensus decisions. They wrote independent reports with recommendations and rulings for resolving the dispute, and referred them to the GATT Council for approval, whereupon they became legally binding. In particular,