International Trade (Part – II)

41. In relation to the previous year, growth rate in exports from the functioning of Special Economic Zones was highest in which year? [U.P.P.C.S. (Mains) 2007]

(a) 2004-05
(b) 2005-06
(c) 2006-07
(d) 2007-08

Correct Answer: (d) 2007-08

Solution:As per the question period and among the given options, highest growth rate of exports from Special Economic Zone (SEZ) was in the year 2007-08. Export from the operational SEZs are as follows:

Year	Exports (value in Rs. crore)	Growth over Previous Year (INR)
2004–05	1814	32%
2005–06	22840	25%
2006–07	34615	52%
2007–08	66638	93%
2008–09	96689	50%
2009–10	220711	121.40%
2010–11	315868	43.11%
2011–12	364478	15.39%
2012–13	476159	31%
2013–14	494077	4.0%
2014–15	463770	-6.13%
2015–16	467337	0.77%
2016–17	523637	12.05%
2017–18	581033	11%
2018–19	701179	21.00%
2019–20	796669	13.62%
2020–21	759524	-4.66%
2021–22	990747	30%
2022–23	1263578	28%

42. Which of the following States has the largest no. of approved as well as operational Special Economic Zones as on June 2012? [U.P.P.C.S. (Mains) 2012]

(a) Uttar Pradesh
(b) Andhra Pradesh
(c) Tamil Nadu
(d) Maharashtra

Correct Answer: (b) Andhra Pradesh

Solution:Andhra Pradesh (combined) had the largest number of approved as well as operational Special Economic Zones as on June 2012. At present, Tamil Nadu has the largest number of operational SEZs in India, while Telangana has the largest number of approved SEZs in India. As on 31.12.2023 there are 424 formal approved (under the SEZs Act, 2005) SEZs and 276 operational SEZs in India. Distribution of approved, notified and operational SEZs in given States as on 31.12.2023 is mentioned below:

table extracted from the image is as follows:

States	Approved SEZs (Formal)	Approved SEZs (In-principle)	Notified SEZs*	Operational SEZs*
Uttar Pradesh	24	1	23	14
Andhra Pradesh	34	4	30	25
Tamil Nadu	56	5	59	49
Maharashtra	49	12	44	37
Telangana	64	0	57	37

@ Under the SEZs Act, 2005; Including prior to SEZs Act, 2005

43. SEZ India mobile app has been launched in January, 2017 by: [U.P.P.C.S. (Pre) 2017]

(a) Ministry of Labour and Employment
(b) Ministry of Finances
(c) Ministry of Commerce and Industry
(d) Ministry of Corporate Affairs

Correct Answer: (c) Ministry of Commerce and Industry

Solution:SEZ India mobile app has been launched in January, 2017 by the Ministry of Commerce and Industry. This app provides detailed information related to Special Economic Zones (SEZs). The app was launched under the ministry's e-Governance initiatives.

Key features and functionalities of the app:

Provides comprehensive details about the SEZ Act, 2005, SEZ Rules, 2006, circulars from the Ministry of Commerce and Industry, and information about specific SEZs and units.
Enables users to file transactions digitally through the SEZ Online system and track their progress. This includes tracking the status of Bill of Entry/Shipping Bill processing and verification.
Offers access to important documents like the Foreign Trade Policy (FTP), Handbook of Procedures, Customs and Excise Notifications, Duty Calculator, and Merchandise Exports from India Scheme (MEIS) rates.
Provides contact information for various offices like Development Commissioners, DGFT, DG System, DGCI&S, and SEZ Online.

44. Which among the following organizations are responsible for channelizing export and import of India: [U.P.P.C.S. (Pre) 1999]

I. Mineral and Metal Trading Corporation

Il. Exim Bank

III. State Trading Corporation

IV. Food Corporation of India

Select the correct answer from the code given below:

Code:

(a) I, II, III and IV
(b) II and IV
(c) I and III
(d) II, III and IV

Correct Answer: (a) I, II, III and IV

Solution:All of the above organizations are responsible for channelizing exports and imports of India.

Mineral and Metal Trading Corporation (MMTC):
MMTC is a public sector undertaking that engages in the trading of minerals, metals, and other commodities. It was initially established to regulate the international trade of minerals and metals. Over time, it diversified into other areas like agro commodities, fertilizers, and precious metals. MMTC is known for its significant role in India's foreign exchange earnings.
Exim Bank (Export-Import Bank of India):
Exim Bank is a specialized financial institution that provides financial assistance to exporters and importers. It also supports Indian companies investing and undertaking projects overseas. The bank plays a crucial role in promoting India's international trade and economic growth.
State Trading Corporation (STC):
STC is another public sector entity that was involved in the import and export of various commodities. It played a key role in ensuring the availability of essential goods in India and facilitating the export of Indian products.
Food Corporation of India (FCI):
FCI is a government agency responsible for the procurement, storage, and distribution of food grains, particularly wheat and rice. It is a vital part of India's food security system. FCI ensures that food grains are available to the public at subsidized prices, especially to those in need.

45. In which year the Export-Import (EXIM) Bank of India was set up? (a) 1980 [Uttarakhand P.C.S. (Pre) 2010, U.P.P.C.S. (Mains) 2015]

(a) 1980
(b) 1982
(c) 1981
(d) 1989

Correct Answer: (b) 1982

Solution:EXIM Bank was established in 1982 by the Government of India, under the Export-Import Bank of India Act, 1981 as a purveyor of export credit, mirroring global Export Credit Agencies. Exim bank serves as a growth engine for industries and SMEs through a wide range of product and services. This includes import of technology and export product development, export production, export marketing, pre- shipment and post-shipment and overseas investment.

46. Which organization promotes the foreign trade? [U.P.P.C.S (Pre) 2011]

(a) ECGC
(b) MMTC
(c) STC
(d) All of the above

Correct Answer: (d) All of the above

Solution:ECGC Ltd. (Formerly Export Credit Guarantee Corporation of India Limited) provides a range of credit risk insurance covers to Indian exporters against loss in export of goods and services. State Trading Corporation of India Limited - STC and Mineral and Metals Trading Corporation Limited-MMTC are also related to foreign trade promotion.

47. ECGC is related to: [U.P.U.D.A./L.D.A. (Pre) 2001]

(a) Export Promotion
(b) Export Financing and Insurance
(c) Export Quality and Certification
(d) Publication of Export data

Correct Answer: (b) Export Financing and Insurance

Solution:ECGC Ltd. (Formerly Export Credit Guarantee Corporation of India Ltd.), wholly owned by Government of India, was set up in 1957 with the objective of promoting exports from the country by providing credit risk insurance and related services for exports. The corporation has introduced various exports credit insurance schemes to meet the requirements of Indian exporters and commercial banks extending export credit. Hence, among the given options, option (b) is the most suitable answer.

48. Which of the following organizations is involved in providing the insurance against various risks to the exporters? [U.P.P.C.S. (Mains) 2009]

(a) Reserve Bank of India
(b) State Trading Corporation of India
(c) EXIM Bank
(d) Export Credit and Guarantee Corporation

Correct Answer: (d) Export Credit and Guarantee Corporation

Solution:ECGC Ltd. (Formerly Export Credit Guarantee Corporation of India Ltd.), wholly owned by Government of India, was set up in 1957 with the objective of promoting exports from the country by providing credit risk insurance and related services for exports. The corporation has introduced various exports credit insurance schemes to meet the requirements of Indian exporters and commercial banks extending export credit. Hence, among the given options, option (b) is the most suitable answer.

49. Which one of the following institutions is related to export financing and insurance? [U.P.P.C.S. (Mains) 2005]

(a) ECGC
(b) GAIL
(c) CBDT
(d) IDBI

Correct Answer: (b) GAIL

Solution:ECGC Ltd. (Formerly Export Credit Guarantee Corporation of India Ltd.), wholly owned by Government of India, was set up in 1957 with the objective of promoting exports from the country by providing credit risk insurance and related services for exports. The corporation has introduced various exports credit insurance schemes to meet the requirements of Indian exporters and commercial banks extending export credit. Hence, among the given options, option (b) is the most suitable answer.

50. Which of the following agencies of India insures the risk of export trade? [U.P.P.C.S. (Spl.) (Mains) 2004]

(a) Exim Bank
(b) Export Credit and Guarantee Corporation
(c) General Insurance Corporation
(d) All of the above

Correct Answer: (b) Export Credit and Guarantee Corporation

Solution:ECGC Ltd. (Formerly Export Credit Guarantee Corporation of India Ltd.), wholly owned by Government of India, was set up in 1957 with the objective of promoting exports from the country by providing credit risk insurance and related services for exports. The corporation has introduced various exports credit insurance schemes to meet the requirements of Indian exporters and commercial banks extending export credit. Hence, among the given options, option (b) is the most suitable answer.