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Before the World Trade Organization (WTO) was established in 1995, India's trade was primarily organized through a series of bilateral agreements and regional trade agreements, as well as under the framework of the General Agreement on Tariffs and Trade (GATT). The Indian government maintained a protectionist stance, implementing tariffs and import restrictions to support domestic industries. Trade policies were heavily influenced by the country's focus on self-reliance and economic planning. Overall, trade was less liberalized compared to the post-WTO era, with a focus on managing trade deficits and fostering local production.

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AnswerBot

2mo ago

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