July opens the biggest chapter in India-U.K. trade relations

With reference to the international trade of India at present, which of the following statements is/are correct?

1. India’s merchandise exports are less than its merchandise imports.
2. India’s imports of iron and steel, chemicals, fertilisers and machinery have decreased in recent years.
3. India’s exports of services are more than its imports of services.
4. India suffers from an overall trade/current account deficit.

Select the correct answer using the code given below:

1. A. 1 and 2 only
2. B. 2 and 4 only
3. C. 3 only
4. D. 1, 3 and 4 only

Among the agricultural commodities imported by India, which one of the following accounts for the highest imports in terms of value in the last five years?

1. A. Spices
2. B. Fresh fruits
3. C. Pulses
4. D. Vegetable oils

The term ‘Digital Single Market Strategy’ seen in the news refers to -

1. A. ASEAN
2. B. BRICS
3. C. EU
4. D. G20

Among the following, which one is the largest exporter of rice in the world in the last five years?

1. A. China
2. B. India
3. C. Myanmar
4. D. Vietnam

Consider the following statements :
Statement-I : India accounts for 3.2% of global export of goods.
Statement-II :Many local companies and some foreign companies operating in India have taken advantage of India's 'Production-linked Incentive' scheme.

Which one of the following is correct in respect of the above statements?

1. A. Both Statement-I and Statement-II are correct and StatementII is the correct explanation for Statement-I
2. B. Both Statement-I and Statement-II are correct and StatementII is not the correct explanation for Statement-I
3. C. Statement-I is correct but StatementII is incorrect
4. D. Statement-I is incorrect but Statement-II is correct

Broad-based Trade and Investment Agreement (BTIA)’ is sometimes seen in the news in the context of negotiations held between India and

1. A. European Union
2. B. Gulf Cooperation Council
3. C. Organization for Economic Cooperation and Development
4. D. Shanghai Cooperation Organization

Consider the following statements:

1. Tight monetary policy of US Federal Reserve could lead to capital flight.
2. Capital flight may increase cost of firms with existing External Commercial Borrowings (ECBs)
3. Devaluation of domestic currency decreases the currency risk associated with ECBs

Which of the statements given above are correct?

1. A. 1 and 3
2. B. 1 and 2 only
3. C. 2 and 3 only
4. D. 1, 2 and 3

With reference to the Indian economy, consider the following statements:

1. If the inflation is too high, Reserve Bank of India (RBI) is likely to buy government securities.
2. If the rupee is rapidly depreciating, RBI is likely to sell dollars in the market.
3. If interest rates in the USA or European Union were to fall, that is likely to induce RBI to buy dollars.

Which of the statements given below is/are correct?

1. A. 1 and 2 only
2. B. 2 and 3 only
3. C. 1 and 3 only
4. D. 1, 2 and 3

Which of the following has/have occurred in India after its liberalization of economic policies in 1991?

1. The share of agriculture in GDP increased enormously.
2. The share of India’s exports in world trade increased.
3. FDI inflows increased.
4. India’s foreign exchange reserves increased enormously.

Select the correct answer using the codes given below :

1. A. 1 and 4 only
2. B. 2, 3 and 4 only
3. C. 2 and 3 only
4. D. 1, 2, 3 and 4

Which of the following is/are the most significant implication(s) of obtaining Oeko-Tex certification for Eri Silk in the global textile industry?

1. It allows Indian exporters to compete in high-end markets that prioritise chemical-free products.
2. It confirms that Eri Silk meets international safety, environmental, and quality standards, enabling its entry into premium eco-conscious markets.

Select the answer using the code given below:

1. A. 1 only
2. B. 2 only
3. C. Both 1 and 2
4. D. Neither 1 nor 2

Does tribal development in India centre around two axes, those of displacement and of rehabilitation? Give your opinion.

Achieving sustainable growth with emphasis on environmental protection could come into conflict with poor people’s needs in a country like India – Comment.

How do you account for the growing fast food industries given that there are increased health concerns in modern society? Illustrate your answer with the Indian experience.

Discuss the distribution and density of population in the Ganga River Basin with special reference to land, soil and water resources.

Mahatma Jotirao Phule’s writings and efforts of social reforms touched issues of almost all subaltern classes. Discuss.

The ethos of civil service in India stand for the combination of professionalism with nationalistic consciousness – Elucidate.

According to the article, what percentage of the United Kingdom's tariff lines will become duty-free for Indian products under the new Free Trade Agreement (FTA)?

1. A. 75%
2. B. 90%
3. C. 99%
4. D. 100%

Which of the following are mentioned as 'unprecedented' standalone chapters included in the India-U.K. Free Trade Agreement (FTA), as per the provided article? 1. Anti-corruption 2. Digital Trade 3. Gender 4. Development 5. Customs

1. A. 1, 2 and 5 only
2. B. 1, 3 and 4 only
3. C. 2, 3 and 4 only
4. D. 1, 2, 3, 4 and 5

The India-U.K. Free Trade Agreement (FTA) is projected to significantly boost bilateral trade. What is the estimated annual increase in bilateral trade between the two countries in the long run, as per the article?

1. A. £5.1 billion
2. B. £4.8 billion
3. C. £25.5 billion
4. D. £48 billion

Discuss the multifaceted significance of the India-U.K. Free Trade Agreement (FTA) for both economies, highlighting how it aims to drive shared growth and unlock opportunities beyond traditional trade barriers.

Introduce the FTA and its formal name. Elaborate on its economic benefits (GDP boost, increased bilateral trade, tariff reductions for specific sectors in both countries). Discuss the provisions beyond tariffs, such as customs, digital trade, and services. Highlight the inclusion of unprecedented chapters (anti-corruption, gender, development, labour, environment) and the balance with domestic protections. Conclude with its strategic importance as a 'gold standard' agreement.

The India-U.K. Free Trade Agreement (FTA) is described as setting a 'gold standard' for modern trade agreements. Examine the provisions within this agreement that justify this claim, particularly those extending beyond conventional economic considerations.

Begin by briefly explaining what a 'gold standard' trade agreement implies in the contemporary global context. Then, detail the specific provisions mentioned in the article that go beyond traditional tariff reductions, such as improved customs, digital trade, and services. Emphasize the 'unprecedented' standalone chapters on anti-corruption, gender, and development, along with comprehensive labour and environmental commitments. Also, mention the inclusion of protections for sensitive domestic sectors in both countries as part of a balanced approach. Conclude by summarizing how these elements contribute to its 'gold standard' status.