India-EU trade has doubled over the last decade to roughly what figure?
- A.USD 90 billion
- B.USD 140 billion
- C.USD 240 billion
- D.USD 70 billion
Correct answer
B. USD 140 billion
Explanation
The correct answer is USD 140 billion. The Commerce and Industry Minister said India's trade with the European Union had already doubled over the last decade to nearly this figure, which is why the conclusion of the Free Trade Agreement matters so much to both sides. Option D is drawn straight from another part of the same speech, where the Minister said the semiconductor mission would collectively catalyse nearly USD 70 billion worth of investment in India, and a candidate who remembers the digits but not the context will reach for it. Option A and option C are values placed on either side of the correct one, the standard way of testing whether a figure has been learnt exactly or only approximately. Keep the economic figures from this speech separate in memory by attaching each to its own subject: trade with the EU at USD 140 billion, the FTA market at USD 24 trillion, and the target of a USD 30 trillion economy by 2047.
Read the full article: India-EU FTA Binds a Market of 2 Billion People: Piyush Goyal
Practice Questions
According to Piyush Goyal, the India-EU FTA brings together a market of how many people?
- A.1 billion people
- B.2 billion people
- C.3 billion people
- D.1.5 billion people
Show answer
Correct answer: B. 2 billion people
Explanation
The correct answer is 2 billion people. Addressing the India-Belgium High-Level Dialogue in Mumbai, the Commerce and Industry Minister said the India-EU Free Trade Agreement brings together 2 billion people, representing a quarter of global GDP, a third of world trade and a market of USD 24 trillion. He also said the agreement had been in the making for twenty-five years before negotiations were concluded, and that all 27 European Union countries are on board and wish to complete the formalities quickly. The three wrong options are all round figures of the kind that feel plausible when a candidate remembers only that the number was large. Option D in particular is close to India's own population figure, which is why it tempts. The set of four numbers moves together and should be memorised together: two billion people, one quarter of global GDP, one third of world trade, twenty-four trillion dollars of market.
The Port of Antwerp-Bruges, described as a key India-Europe link, is which seaport of Europe by size?
- A.The largest
- B.The second-largest
- C.The third-largest
- D.The fifth-largest
Show answer
Correct answer: B. The second-largest
Explanation
The correct answer is the second-largest. Shri Goyal said that Belgium stands at the gateway of the opportunity created by the India-EU FTA, and noted that the Port of Antwerp-Bruges is Europe's second-largest seaport. He described it as the doorway through which the promise of the agreement would physically arrive in Europe or be dispatched to India, combining Antwerp's inland barge, rail and road networks with the seabridges, deepwater and roll-on roll-off strengths of Bruges. Belgian Prime Minister Bart De Wever, who was present, had himself called the port an important logistical link between India and Europe. Option A, the largest, is the most tempting wrong answer, because a port spoken of in such terms sounds like the biggest of all. Options C and D shift the ranking further down and are easier to reject. Rankings of this kind are favourite question material precisely because one word carries the whole fact.
What is the weight of the WPI Food Index, and what inflation did it record in August 2026?
- A.Weight 24.99 per cent, inflation 7.05 per cent
- B.Weight 22.93 per cent, inflation 6.65 per cent
- C.Weight 24.99 per cent, inflation 9.92 per cent
- D.Weight 18.50 per cent, inflation 7.05 per cent
Show answer
Correct answer: A. Weight 24.99 per cent, inflation 7.05 per cent
Explanation
The correct answer is a weight of 24.99 per cent with inflation of 7.05 per cent. The WPI Food Index is not a major group on its own; it is built by taking Food Articles out of the Primary Articles group and the manufacture of food products out of the Manufactured Products group, and putting them together. Option B is wrong on both counts: 22.93 per cent is the inflation of the Fuel and Power group rather than any weight, and 6.65 per cent was the Food Index rate in July 2026, the previous month. Option C gives the right weight but attaches the headline all commodities rate of 9.92 per cent to it, which belongs to the whole index and not to food alone. Option D invents a weight that does not appear in the release. Note the direction of movement as well, since food inflation in the wholesale series climbed from 6.65 per cent in July to 7.05 per cent in August.
Which major group recorded the highest year on year inflation in the Wholesale Price Index for August 2026?
- A.Primary Articles
- B.Fuel and Power
- C.Manufactured Products
- D.All Commodities
Show answer
Correct answer: B. Fuel and Power
Explanation
The correct answer is Fuel and Power, which recorded inflation of 22.93 per cent in August 2026. The figure is far above every other group and had itself risen from 20.05 per cent in July 2026, which is why mineral oils containing petroleum products are listed first among the drivers of the month's wholesale inflation. Option A is wrong because Primary Articles recorded 7.76 per cent, and that group actually cooled from 8.52 per cent in the previous month. Option C is wrong because Manufactured Products recorded 8.37 per cent, a slight rise from 8.29 per cent in July. Option D is wrong because All Commodities is not a major group at all but the headline aggregate, and its rate was 9.92 per cent. The group indices are worth memorising alongside the rates: 118.1 for Primary Articles, 108.3 for Fuel and Power, and 108.8 for Manufactured Products.
What was India's Wholesale Price Index inflation rate for August 2026?
- A.8.37 per cent
- B.9.78 per cent
- C.9.92 per cent
- D.10.45 per cent
Show answer
Correct answer: C. 9.92 per cent
Explanation
The correct answer is 9.92 per cent. That is the provisional year on year wholesale inflation rate announced for August 2026 on the base year 2022-23, and the index for all commodities stood at 110.8 in the same month. Option B is wrong because 9.78 per cent was the rate for July 2026, the month before; since the two figures are close and are printed side by side in the release, candidates who read carelessly often pick the earlier one. Option A is wrong because 8.37 per cent is the inflation rate of the Manufactured Products group alone, not the headline rate for all commodities. Option D is not a figure given in the release at all. A further detail worth carrying into the examination hall is that the final estimate for June 2026 was revised upward from 9.87 per cent to 9.97 per cent, which shows that provisional wholesale numbers are routinely corrected when the response rate improves.