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Indian EconomyMediumAsked in: NDA · NDA-I 2017, GAT

Which one among the following countries is the largest trading partner of India in external trade for the year 2015-2016 ?

  1. A.United States of America
  2. B.United Kingdom
  3. C.United Arab Emirates
  4. D.China

Correct answer

D. China

Explanation

The correct answer is D, China. In 2015-16 China was India's largest trading partner by total trade, that is exports plus imports.

India's trade with China that year was about US$ 70 billion, but most of it was imports of electronics, machinery and chemicals, so India ran its largest bilateral trade deficit with China. The United States came second and the United Arab Emirates third. The ranking moves from year to year: the USA overtook China in later years, so the answer always depends on the year named in the question.

A is wrong: the USA was second in 2015-16, although it was India's largest export market. B is wrong: the United Kingdom was well outside the top three trading partners. C is wrong: the UAE was third, an important partner for oil, re-exports and gold.

Exam tip: For "largest trading partner" questions, note the year: China in 2015-16 (total trade), with India's biggest trade deficit also with China.

Practice Questions

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Q1.Indian EconomyAsked in: NDA · NDA-I 2022, GATEasy

Who among the following is the Chairperson of the Goods and Services Tax Council?

  1. A.The Prime Minister of India
  2. B.The Union Finance Minister
  3. C.The Speaker of the Lok Sabha
  4. D.The President of India
Show answer
Correct answer: B. The Union Finance Minister

Under Article 279A of the Constitution, the Union Finance Minister is the Chairperson of the GST Council. Article 279A was added by the Constitution (One Hundred and First Amendment) Act, 2016, which brought in the Goods and Services Tax.

Q2.Indian EconomyAsked in: CDS · CDS-II 2024, GKHard

The Rangarajan Committee methodology for determining the poverty line incorporated which of the following ? 1. A food component 2. A normative level of expenditure for essential non-food items 3. A behaviourally determined expenditure for other non-food items Select the answer using the code given below :

  1. A.1 and 2 only
  2. B.2 and 3 only
  3. C.1, 2 and 3
  4. D.1 and 3 only
Show answer
Correct answer: C. 1, 2 and 3

The Rangarajan Committee built its poverty line basket from all three parts named in the question. The expert group headed by C. Rangarajan was set up in 2012 and reported in 2014, to review the Tendulkar method.

Q4.Indian EconomyAsked in: NDA · NDA-I 2026, GATEasy

The Atal Innovation Mission (AIM) is set up by the

  1. A.Department of Science and Technology, Government of India
  2. B.NITI Aayog
  3. C.Ministry of Statistics and Programme Implementation, Government of India
  4. D.Ministry of Corporate Affairs, Government of India
Show answer
Correct answer: B. NITI Aayog

The Atal Innovation Mission (AIM) was set up by NITI Aayog in 2016 as the Government of India's flagship programme to promote innovation and entrepreneurship.