A question uppermost on trade economists’ minds is whether the WTO is worth saving. One way to evaluate the question is to investigate its achievements, with the obvious caveat that the past is an imperfect guide to the future.
Unfortunately, the revenue enthusiasm of the private entrants was belied, not least because tariffs for the new services were set at impossibly high levels. The Rs 156 per month rental and Rs 16.80 per peak minute tariffs encouraged subscription but not usage. Revenues did not materialise and besides, the incumbent public sector monopoly made life hard for the private sector entrants.