Union Commerce and Industry Minister Piyush Goyal Urges Telangana Businesses to Maximize Utilization of Free Trade Agreements
Distilled Policy Brief
- India has recently concluded nine free trade agreements or bilateral trade agreements in the past four and a half years, opening opportunities in 38 developed nations.
🎯 Prelims High-Yield Examination Points
India's free trade agreements provide primary market access covering a significant share of global GDP, with recent agreements concluded with developed nations.
⚖️ Mains Analytical & Syllabus Linkages
Analyze the strategic significance of India's recent Free Trade Agreements in expanding global market access, boosting exports, and driving regional economic growth like in Telangana.
🎯 UPSC Prelims Practice Drill
With reference to India's recent trade agreements and economic landscape, consider the following statements: 1. India has concluded nine free trade agreements or bilateral trade agreements in the past four and a half years, expanding opportunities into developed nations. 2. India's existing trade agreements provide preferential market access to a substantial share of global GDP, which is projected to increase further as ongoing negotiations conclude. Which of the statements given above is/are correct?
- [A] 1 only
- [B] 2 only
- [C] Both 1 and 2
- [D] Neither 1 nor 2
▶ Reveal Official Answer & Analytical Explanation
Both statements are correct based on the provided text. India has concluded nine free trade agreements or bilateral trade agreements in the past four and a half years, providing market access across developed nations. Furthermore, these trade agreements provide preferential access to a massive portion of global GDP, with additional bilateral and multilateral agreements currently under negotiation to expand this coverage further.
🏛️ Historical Twin PYQ Anchor (2021)
Consider the following statements regarding the "National Clean Air Programme (NCAP)": 1. It is implemented by the Ministry of Environment, Forest and Climate Change. 2. Central Pollution Control Board acts as the sole regulatory executive body.