International Trade One Liner Questions & Answers
| Questions | Answers | |
| 1 | Which Ministry of Government of India is related for India’s Foreign Trade Policy? | Ministry of Commerce and Industry |
| 2 | The long-term vision of the Department of Commerce is to make India a major player in the world trade by – | 2020 |
| 3 | More than 50 percent of India’s import comes from – | Asian countries |
| 4 | India has the maximum volume of foreign trade with – | USA |
| 5 | The payment of foreign trade is related to – | Balance of Payment |
| 6 | The Balance of Payments (BoP) of a country is a systematic record of – |
All import and export transactions of a country during a given period of time, normally a year
|
| 7 | India spends the maximum foreign exchange on the import of which item? | Petroleum products |
| 8 | The two largest items of import in India in recent years are Super ‘301’ is related to – | Capital goods and petroleum products |
| 9 | The biggest LNG supplier to India is – | Qatar |
| 10 | The term ‘West Texas Intermediate’, sometimes found in news, refers to a grade of – | Crude oil |
| 11 | A ‘Letter of Credit’ is produced by – | An importer |
| 12 | The largest percentage share in India’s export trade is of – | Gems and jewellery |
| 13 | The largest importer country of Indian textiles is – | United States of America |
| 14 | The production of cultured pearl is an important cottage industry of – | Japan |
| 15 | The New Exim Policy announced in 1992, is for period of – | 5 years |
| 16 | The process of Globalization refers to – | Dismantling barriers in international trade |
| 17 | Globalization of Indian Economy means – |
Having minimum possible restrictions on economic relations with other countries
|
| 18 | The first phase of liberalization was initiated in India under the regime of – | P.V. Narsimha Rao |
| 19 | Free Trade Policy refers to a policy where there is – | Absence of tariff |
| 20 | A free trade zone is one where – |
Industries are free from excise duties and produce for exports
|
| 21 | The policy for Special Economic Zone (SEZ) was introduced in the country for the first time in – | 2000 |
| 22 | The Special Economic Zone (SEZ) Act became effective in – | 2006 |
| 23 | India’s first Export Processing Zone (EPZ) was created in – | Kandla |
| 24 | The first Export Processing Zone of the Private Sector was established at – | Surat |
| 25 | In relation to the previous year, growth rate in exports from the functioning of Special Economic Zones was highest in which year? | 2007-08 |
| 26 | SEZ India mobile app has been launched in January, 2017 by – | Ministry of Commerce and Industry |
| 27 | In which year the Export-Import (EXIM) Bank of India was set up? | 1982 |
| 28 | ECGC is related to – | Export Financing and Insurance |
| 29 | India Brand Equity Fund was established in – | 1996 |
| 30 | India has recently signed a Comprehensive Economic Co-operation Agreement with – | Malaysia |