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Politician P. Chidambaram speaks about GATT in India. He says "India does need GAT, not only India every developing country needs GAT. We need rules, would rather trade in a world of rules rather than a world without rules. It is completely unacceptable option, if we get out of GAT, where we go? We would still have to negotiate bilateral trade arrangements with each one of the 108 countries of the world. At-least each one of have 40 major trading partners. EC, US , Japan and none of these countries is willing to offer us any arrangement better than what GATT is offering us." General Agreement on Tariffs and Trade (GATT), set of multilateral trade agreements aimed at the abolition of quotas and the reduction of tariff duties among the contracting nations. When GATT was concluded by 23 count
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