🌍 Chapter 11 · Indian Economy · Development & Reforms

International Trade & Organisations

Balance of payments, WTO, IMF, World Bank, BRICS, ASEAN; India’s trade policy — complete notes for UPSC & PSC exams.

📅 UPSC Prelims📋 APPSC Group 1 & 2📋 TGPSC Group 1 & 2⏱️ ~55 min read🎯 Very High Weightage

Sub-Topics

Practice MCQs

PYQs

⭐⭐

Very High

✅ Balance of Trade vs Balance of Payments

✅ Current account vs capital account

✅ WTO — functions, agreements, India’s role

✅ IMF — functions, SDR, India’s quota

✅ World Bank — IBRD, IDA, IFC

✅ BRICS, ASEAN, SAARC, G20

✅ India’s export-import policy

✅ Foreign exchange reserves

UPSC Prelims (2–3 Qs/year)APPSC Group 1 & 2TGPSC Group 1 & 2SSC CGL / CHSLState PSC Exams

📚 Chapter Sub-Topics — Click to Read

Topic 01

Balance of Trade & Balance of Payments

BoT vs BoP, current account, capital account, BoP deficit/surplus, and India’s BoP position.

Topic 02

WTO — World Trade Organisation

WTO formation (1995), functions, key agreements (TRIPS, TRIMS, GATS), India’s role, and trade disputes.

Topic 03

IMF & World Bank — Functions & India’s Role

IMF — SDR, quota, conditionality. World Bank — IBRD, IDA, IFC. India’s relationship with both institutions.

Topic 04

BRICS, G20, ASEAN & Other Groupings

BRICS — members, NDB, CRA. G20 — India’s presidency. ASEAN, SAARC, SCO — India’s role in each.

Topic 05

India’s Trade Policy & Foreign Exchange Reserves

India’s export-import policy, major trading partners, forex reserves, exchange rate management, and current account deficit.

Topic 06

Comparative Advantage, Tariffs & Quick Revision

Theory of comparative advantage, tariff vs non-tariff barriers, dumping, anti-dumping, and complete chapter revision.

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