π Chapter 11 Β· Indian Economy Β· Development & Reforms
International Trade & Organisations
Balance of payments, WTO, IMF, World Bank, BRICS, ASEAN; India’s trade policy β complete notes for UPSC & PSC exams.
6
Sub-Topics
10
Practice MCQs
10
PYQs
ββ
Very High
π What You Will Learn in This Chapter
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Balance of Trade vs Balance of Payments
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Current account vs capital account
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WTO β functions, agreements, India’s role
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IMF β functions, SDR, India’s quota
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World Bank β IBRD, IDA, IFC
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BRICS, ASEAN, SAARC, G20
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India’s export-import policy
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Foreign exchange reserves
π― Exam Relevance β This chapter appears in:
UPSC Prelims (2β3 Qs/year)APPSC Group 1 & 2TGPSC Group 1 & 2SSC CGL / CHSLState PSC Exams
π Chapter Sub-Topics β 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 β World Trade Organisation
WTO formation (1995), functions, key agreements (TRIPS, TRIMS, GATS), India’s role, and trade disputes.
Topic 03
IMF & World Bank β Functions & India’s Role
IMF β SDR, quota, conditionality. World Bank β IBRD, IDA, IFC. India’s relationship with both institutions.
Topic 04
BRICS, G20, ASEAN & Other Groupings
BRICS β members, NDB, CRA. G20 β India’s presidency. ASEAN, SAARC, SCO β 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.
β‘ Quick Access