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Trade Liberalization and Terms of Trade in Dairy Products in India

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  • T R Rajarajan

Abstract

The combined effects of both domestic reforms and WTO commitments in the last decade have changed the environment in which the Indian dairy industry will operate in future. Terms of trade is a significant indicator of gains from trade and efficiency of domestic industry. In average terms, the terms of trade of Indian dairy products has declined in the post-liberalization period as compared to pre-liberalization years. The year-wise trend is unstable with wide fluctuations in post-liberalization years. The real effects of trade liberalization will unfold only when the WTO provisions are properly implemented.

Suggested Citation

  • T R Rajarajan, 2006. "Trade Liberalization and Terms of Trade in Dairy Products in India," The IUP Journal of Agricultural Economics, IUP Publications, vol. 0(1), pages 22-26, January.
  • Handle: RePEc:icf:icfjag:v:03:y:2006:i:1:p:22-26
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