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EconomyMedium

In the context of the NSTCC dashboards, what does SCOMET stand for?

  1. A.Strategic Commodities, Metals and Export Technologies
  2. B.Special Chemicals, Organisms, Materials, Equipment and Technologies
  3. C.Specified Commercial Materials and Engineering Trade
  4. D.Security Controlled Materials, Equipment and Trade

Correct answer

B. Special Chemicals, Organisms, Materials, Equipment and Technologies

Explanation

The correct answer is Special Chemicals, Organisms, Materials, Equipment and Technologies. SCOMET is the list under which India regulates the export of dual-use and strategically sensitive items, and its dashboard is one of those placed on the command centre in the first phase, alongside the Importer Exporter Code, Advance Authorisation, Export Promotion Capital Goods, Certificate of Origin and restricted imports and exports. While reviewing this dashboard the Minister asked the Inter-Ministerial Committee to meet as often as every week so that pending applications are cleared quickly. Options A, C and D are invented expansions that mix plausible-sounding words such as strategic, commercial and security, but none of them is the official form. Candidates should learn the expansion exactly, because the abbreviation appears often in questions on India foreign trade policy.

Read the full article: National Strategic Trade Command Centre Opens at Vanijya Bhawan

Q1.EconomyEasy

Where was the National Strategic Trade Command Centre (NSTCC) launched?

  1. A.Udyog Bhawan, New Delhi
  2. B.Vanijya Bhawan, New Delhi
  3. C.Krishi Bhawan, New Delhi
  4. D.Nirman Bhawan, New Delhi
Show answer
Correct answer: B. Vanijya Bhawan, New Delhi

The Union Minister of Commerce and Industry, Piyush Goyal, inaugurated the National Strategic Trade Command Centre there, in the presence of the Commerce Secretary, Rajesh Agrawal, and the Director General of Foreign Trade, Lav Agarwal.

Q2.EconomyMedium

Which department has developed the National Strategic Trade Command Centre?

  1. A.Department for Promotion of Industry and Internal Trade
  2. B.Department of Commerce
  3. C.Department of Revenue
  4. D.Department of Economic Affairs
Show answer
Correct answer: B. Department of Commerce

The platform consolidates information on trade performance, export promotion schemes, regulatory approvals and application processing, and it is being run on existing digital infrastructure such as the systems of the Directorate General of Foreign Trade and the Trade Connect ePlatform.