India-EU FTA is more than just a trade pact… Both sides have chosen openness over protectionism: EU Ambassador Delphin
India-EU FTA is more than just a trade pact… Both sides have chosen openness over protectionism: EU Ambassador Delphin. (See the linked source for details.)
Quick Revision
Prelims-testable facts
- 01The India-EU FTA is a comprehensive trade agreement between India and the European Union.
- 02The EU Ambassador to India stated that both sides have chosen openness over protectionism in the India-EU FTA.
- 03The India-EU FTA aims to promote economic cooperation, investment, and trade between India and the EU.
- 04There has been no mention of specific numerical thresholds or quotas in the source article regarding the India-EU FTA.
- 05The India-EU FTA is not limited to just a trade pact, but also encompasses other areas such as cooperation on climate change and sustainable development.
- 06No specific key dates have been mentioned in the source article regarding the implementation or signing of the India-EU FTA.
- 07There has been no mention of any exceptions or exclusions in the source article regarding the India-EU FTA.
Trap alerts
- Most people think that the India-EU FTA is only about trade, but actually it encompasses other areas such as climate change and sustainable development.
- Most people think that the EU Ambassador to India was critical of the India-EU FTA, but actually they stated that both sides have chosen openness over protectionism.
Current-affairs link
The European Union's Generalised Scheme of Preferences (GSP) is a trade preference scheme that allows developing countries to export goods to the EU at reduced or zero tariffs, and it has been linked to the India-EU FTA negotiations.
Mains Practice Question
Critically examine the implications of India's decision to choose openness over protectionism in trade agreements, particularly with regard to its economic and strategic interests.
250 words
Practice this in the exam hall →Prelims Practice MCQs
The FTA between which two countries is more than just a trade pact?
- A.India-EU
- B.India-US
- C.India-China
- D.India-Japan
The FTA between India and the EU is more than just a trade pact, reflecting both sides' commitment to openness over protectionism.
Who made the statement that the India-EU FTA is more than just a trade pact?
- A.EU Ambassador Delphin
- B.Indian Foreign Minister
- C.Prime Minister of India
- D.President of the European Commission
EU Ambassador Delphin made the statement, highlighting the significance of the FTA beyond trade.
Who is the EU Ambassador mentioned in the article?
- A.Delphin
- B.Ambassador to India from France
- C.EU Representative for South Asia
- D.High Commissioner of Australia
The EU Ambassador mentioned in the article is Delphin, who made a statement about the significance of the India-EU FTA.
Consider the following statements regarding India-EU FTA: 1. The India-EU FTA is more than just a trade pact. 2. EU Ambassador Delphin has been involved in negotiating this agreement for over 10 years. 3. Both sides have chosen openness over protectionism. How many of the above statements are correct?
- A.Only one
- B.Only two
- C.All three
- D.None
Statement 1 is correct because the text explicitly states that the India-EU FTA is more than just a trade pact. Statement 2 is incorrect because there is no information in the text about EU Ambassador Delphin's involvement in negotiating this agreement for over 10 years. Statement 3 is correct because the text quotes EU Ambassador Delphin as saying that both sides have chosen openness over protectionism.
Consider the following two statements: Statement-I: The India-EU FTA is more than just a trade pact. Statement-II: Both sides have chosen openness over protectionism. Which one of the following is correct in respect of the above statements?
- A.Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I
- B.Both Statement-I and Statement-II are correct but Statement-II is not the correct explanation for Statement-I
- C.Statement-I is correct but Statement-II is incorrect
- D.Statement-I is incorrect but Statement-II is correct
Statement 1 is correct because the text explicitly states that the India-EU FTA is more than just a trade pact. Statement 2 is also correct, but it does not explain why Statement 1 is true. Instead, both statements are independent facts about the India-EU FTA.