{"id":1710,"date":"2024-03-28T22:50:37","date_gmt":"2024-03-28T17:20:37","guid":{"rendered":"https:\/\/lotusarise.com\/qna\/?p=1710"},"modified":"2024-04-03T07:16:17","modified_gmt":"2024-04-03T01:46:17","slug":"q-with-reference-to-the-international-trade-of-india-at-present-which-of-the-following-statements-is-are-correct","status":"publish","type":"post","link":"https:\/\/lotusarise.com\/qna\/upsc\/q-with-reference-to-the-international-trade-of-india-at-present-which-of-the-following-statements-is-are-correct","title":{"rendered":"Q. With reference to the international trade of India at present, which of the following statements is\/are correct?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">(1) India\u2019s merchandise exports are less than its merchandise imports.<br>(2) India\u2019s imports of&nbsp;<strong>iron and steel, chemicals, fertilisers and machinery<\/strong>&nbsp;have&nbsp;<strong>decreased<\/strong>&nbsp;in recent years.<br>(3) India\u2019s exports of services are more than its imports of services.<br>(4) India suffers from an overall trade\/current account deficit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Select the correct answer using the code given below:<\/p>\n\n\n\n<ul class=\"mcq wp-block-list\">\n<li>1 and 2 only<\/li>\n\n\n\n<li>2 and 4 only<\/li>\n\n\n\n<li>3 only<\/li>\n\n\n\n<li>1, 3 and 4 only<\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>Answer: (d) 1, 3 and 4 only<\/strong><\/p>\n<\/blockquote>\n\n\n\n<h5 class=\"wp-block-heading\" id=\"notes-hd-660526c18031b\">Notes:<\/h5>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>This Question was cancelled by UPSC.<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>India is a net exporter in services.<\/strong>&nbsp;Observing the recent trends, there was a surplus o<strong>f $6.84 billion in June<\/strong>, with exports standing at $16.48 billion and imports at $9.64 billion.<\/li>\n\n\n\n<li>As per RBI\u2019s data,&nbsp;<strong>India\u2019s merchandise exports<\/strong>&nbsp;during April-August 2019-20 was 133 bn USD as compared to 210 bn of imports during the same period.<\/li>\n\n\n\n<li><strong>India suffers from an overall trade deficit<\/strong>. For instance-<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Year<\/strong><\/td><td><strong>2015<\/strong><\/td><td><strong>2016<\/strong><\/td><td><strong>2017<\/strong><\/td><td><strong>2018<\/strong><\/td><td><strong>2019<\/strong><\/td><\/tr><tr><td><strong>Trade Balance (in USD bn)<\/strong><\/td><td>-117.3<\/td><td>-108.9<\/td><td>-158.6<\/td><td>-182.3<\/td><td>-153.5<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>I<strong>ndia\u2019s trade deficit narrowed sharply to USD 6.77 billion in August of 2020<\/strong>&nbsp;from USD 13.86 billion in the same month last year.<\/li>\n\n\n\n<li>In 2018, major countries to which India Exported include the&nbsp;<strong>United States, United Arab Emirates, China,<\/strong>&nbsp;Hong Kong&nbsp;and Singapore.<\/li>\n\n\n\n<li><strong>Export of iron and steel products<\/strong>&nbsp;<strong>witnessed a sharp rise&nbsp;<\/strong>of more than&nbsp;<strong>100%&nbsp;<\/strong>in June 2020.<\/li>\n\n\n\n<li>Chemicals include dyes and dye intermediates, organic chemicals, inorganic chemicals, agro-chemicals, cosmetics &#038; toiletries, and castor oil.\n<ul class=\"wp-block-list\">\n<li>From April 2019 to January 2020, the export of dyes increased by 9.12% y-o-y to US$ 2.27 billion. Cosmetics and toiletries increased by 5.62%<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>(1) India\u2019s merchandise exports are less than its merchandise imports.(2) India\u2019s imports of&nbsp;iron and steel, chemicals, fertilisers and machinery&nbsp;have&nbsp;decreased&nbsp;in recent years.(3) India\u2019s 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: Answer: (d) 1, 3 and 4&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[1,3],"tags":[38],"years":[53],"class_list":["post-1710","post","type-post","status-publish","format-standard","hentry","category-upsc","category-prelims","tag-indian-economy","years-53"],"acf":[],"taxonomy_info":{"category":[{"value":1,"label":"UPSC"},{"value":3,"label":"Prelims"}],"post_tag":[{"value":38,"label":"Indian Economy"}],"years":[{"value":53,"label":"2020"}]},"featured_image_src_large":false,"author_info":{"display_name":"LotusArise","author_link":"https:\/\/lotusarise.com\/qna\/author\/team-lotusarise"},"comment_info":0,"category_info":[{"term_id":1,"name":"UPSC","slug":"upsc","term_group":0,"term_taxonomy_id":1,"taxonomy":"category","description":"","parent":0,"count":1269,"filter":"raw","cat_ID":1,"category_count":1269,"category_description":"","cat_name":"UPSC","category_nicename":"upsc","category_parent":0},{"term_id":3,"name":"Prelims","slug":"prelims","term_group":0,"term_taxonomy_id":3,"taxonomy":"category","description":"","parent":1,"count":1251,"filter":"raw","cat_ID":3,"category_count":1251,"category_description":"","cat_name":"Prelims","category_nicename":"prelims","category_parent":1}],"tag_info":[{"term_id":38,"name":"Indian Economy","slug":"indian-economy","term_group":0,"term_taxonomy_id":38,"taxonomy":"post_tag","description":"","parent":0,"count":225,"filter":"raw"}],"_links":{"self":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts\/1710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/comments?post=1710"}],"version-history":[{"count":0,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts\/1710\/revisions"}],"wp:attachment":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/media?parent=1710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/categories?post=1710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/tags?post=1710"},{"taxonomy":"years","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/years?post=1710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}