UPSC Prelims Practice Questions — Gems and jewellery exports fall to 5-year low

Q1. The FY 2025-26 gems and jewellery export figures showing a five-year low were compiled and released by which of the following, the apex export promotion council for the sector?

  • A. Gem and Jewellery Export Promotion Council (GJEPC)
  • B. Federation of Indian Export Organisations (FIEO)
  • C. Agricultural and Processed Food Products Export Development Authority (APEDA)
  • D. EEPC India (Engineering Export Promotion Council)

Q2. The steep fall in India's gem and jewellery shipments to the United States in FY 2025-26 followed the imposition of which of the following by the US administration?

  • A. Reciprocal tariffs, later supplemented by an additional 25% duty
  • B. An anti-dumping duty determined under WTO rules
  • C. A countervailing duty against subsidised gem imports
  • D. A quantitative import quota on cut and polished diamonds

Q3. Under the India-US trade agreement of 2026 that offered relief to the gems and jewellery sector, the US reciprocal tariff on Indian goods was brought down to 18% from which earlier level?

  • A. 25%
  • B. 50%
  • C. 20%
  • D. 15%

Q4. The India-US trade deal restoring tariff access for gems and jewellery is projected to lift the sector's exports, in the near term, by up to approximately how much?

  • A. $3 billion
  • B. $1 billion
  • C. $5 billion
  • D. $10 billion

Q5. In the context of India's foreign trade, the GJEPC is best described as which of the following?

  • A. The apex export promotion council for the gems and jewellery sector, set up under the Ministry of Commerce and Industry
  • B. A statutory regulator that fixes domestic gold prices
  • C. A commodity exchange for the spot and forward trading of diamonds
  • D. A body under the Ministry of Finance that administers gold import duties

Q6. The Indian Diamond Institute (IDI), Surat, an allied institution of the gems and jewellery trade, functions under the administrative control of which of the following?

  • A. Department of Commerce, Ministry of Commerce and Industry
  • B. Ministry of Mines
  • C. Ministry of Micro, Small and Medium Enterprises
  • D. Department of Economic Affairs, Ministry of Finance

Q7. As per its current membership, the Kimberley Process Certification Scheme (KPCS) has how many Participants, with the European Union counted as a single participant?

  • A. 60 Participants, representing 86 countries
  • B. 45 Participants, representing 60 countries
  • C. 86 Participants, representing 60 countries
  • D. 54 Participants, representing 82 countries

Q8. The sharp post-pandemic recovery in which India's gems and jewellery exports surged about 71% during April-December 2021 over the year-earlier period was officially announced by which Union Ministry?

  • A. Ministry of Commerce and Industry
  • B. Ministry of Textiles
  • C. Ministry of Mines
  • D. Ministry of Finance