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Liberalised Trade Policies to Promote Globalisation

India has nev...

Question

India has never implemented trade barriers on its imports.

A

False

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B

True

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Solution

The correct option is A False

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Q. In India, with globalisation, trade barriers are ____ .

Q. Michael established a cotton spinning mill in the United States of America and imported raw cotton from India. However, while importing raw materials from India, the United States government imposed high tariffs. Similarly, India imposed high taxes on the clothes imported from the USA.

Based on the above information, answer the following questions:
(a) Why did the USA impose trade barriers?
(b) How can the problem of trade barriers be resolved?

Q. Match the following.

	List I		List II
i	MNCs buy at cheap rates from small producers	a	Automobiles
ii	Quotas and taxes on imports are used to regulate trade	b	Garments, footwear, sports items
iii	Indian companies who have invested abroad	c	Call centres
iv	IT has helped in spreading of production of services	d	Tata Motors, Infosys, Ranbaxy
v	Several MNCs have invested in setting up factories in India for production	e	Trade barriers

Q. The most important of the non-tariff trade barriers are __________.

Q. Which of the following refers to trade barrier in the context of WTO?
I. Restrictions on domestic trade.
II. Not allowing companies to do foreign trade beyond specific quantity.
III. Restrictions on the export and import of goods.

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