Comparative Analysis of International Trade law and Indian Trade law

Trade is crucial for a country’s economic growth. Countries establish relations with other nations through multilateral or bilateral agreements. Imports and exports are crucial because they contribute to a country’s economic development and provide citizens with products that are not available in the country. Not every country has resources that supply all the necessities, and that is why trade is important. It also increases competition and drives innovation. Trade also helps customers to buy commodities at lower prices because companies try to win customers by offering products at a lower price. It also promotes peaceful cooperation as countries try to build trust through trade. Every country has its own domestic trade law that governs its trade activity. On the other hand, International trade law is governed by agreements and organisations such as the WTO. When a country is engaged in International trade, it has to follow the relevant agreements and principles, and if it violates them, countries can impose sanctions on that particular state. In this article, we will analyze International and Indian trade law, how they are governed and the similarities and differences between them.