UPSC Prelims Practice Questions — India’s trade strategy in a multipolar world
Q1. Which one of the following is the nodal ministry for implementing the Export Promotion Mission approved by the Union Cabinet in November 2025?
- A. Ministry of Micro, Small and Medium Enterprises
- B. Ministry of Commerce and Industry
- C. Ministry of Finance
- D. Ministry of External Affairs
Q2. Which one of the following was India's first Comprehensive Economic Partnership Agreement (CEPA) signed with a member of the Gulf Cooperation Council (GCC)?
- A. India–Saudi Arabia CEPA
- B. India–Bahrain CEPA
- C. India–UAE CEPA
- D. India–Oman CEPA
Q3. The Export Promotion Mission, which provides an integrated framework for India's export competitiveness with an outlay of Rs.25,060 crore, was first announced in which one of the following?
- A. Foreign Trade Policy 2023
- B. Union Budget 2024-25
- C. Union Budget 2025-26
- D. Atmanirbhar Bharat Abhiyan 3.0
Q4. With reference to the Foreign Trade Policy (FTP) 2023 in comparison with its predecessor FTP 2015-20, consider the following statements:
1. Unlike its predecessor, FTP 2023 does not have a fixed end-date or sunset clause and is to be updated as and when required.
2. FTP 2023 retains the Merchandise Exports from India Scheme (MEIS) as the principal export incentive instrument.
3. The $2 trillion export target set under FTP 2023 for 2030 comprises USD 1 trillion in merchandise exports and USD 1 trillion in services exports.
Which of the statements given above is/are correct?
- Unlike its predecessor, FTP 2023 does not have a fixed end-date or sunset clause and is to be updated as and when required.
- FTP 2023 retains the Merchandise Exports from India Scheme (MEIS) as the principal export incentive instrument.
- The $2 trillion export target set under FTP 2023 for 2030 comprises USD 1 trillion in merchandise exports and USD 1 trillion in services exports.
- A. 1 only
- B. 1 and 2 only
- C. 1 and 3 only
- D. 1, 2 and 3