Industry & Commerce - GS question based on India Year Book

Here, you can read Industry & Commerce multiple choice questions and answers with explanation.

1)   As per WTO press release, which of the following statement / s is / are correct?

1) In Commercial services, India is 6th largest exporter and 12th largest importer in the world.
2) In Merchandise trade, India is 19th largest exporter and 7th largest importer in the world.
- Published on 19 Oct 15

a. Only 1
b. Only 2
c. Both
d. None of the above
Answer  Explanation 

ANSWER: None of the above

Explanation:
Services - 6th largest exporter and 7th largest importer; Merchandise trade – 19th largest exporter and 12th largest importer.

2)   In India growth is mainly driven by
- Published on 19 Oct 15

a. Decrease of imports
b. Increase in exports
c. Domestic demand
d. Controlling inflation
Answer  Explanation 

ANSWER: Domestic demand

Explanation:
In India although the growth is driven by domestic demand, contribution of exports to economic growth Is important as exports of goods and services account for about one fourth of the GDP. Domestic consumption is more and is fuelling the current growth.

3)   From which country FDI is not allowed in India?

1) China
2) Bangladesh
3) Pakistan
4) USA
- Published on 07 Aug 15

a. Only 3
b. Only 2 and 3
c. Only 1, 2 and 3
d. None of the above
Answer  Explanation  Related Ques

ANSWER: None of the above

Explanation:
In the last three years, FDI from Pakistan too is being allowed under the Government route, in sectors/activities other than defense, space and atomic energy.

4)   Which of the following statement / s is / are correct with regards to FDI policy changes?

1) Foreign Airlines are not allowed to make foreign investment in air transport services owing to national security reasons.
2) FDI in telecom sector is recently approved upto 100% and in defense sector upto 49%.
- Published on 07 Aug 15

a. Only 1
b. Only 2
c. Both
d. None
Answer  Explanation  Related Ques

ANSWER: Only 2

Explanation:
Foreign Airlines are now allowed to make foreign investment upto 49%, in scheduled and non-scheduled air transport services. FDI of 51%, under government approval in multi-brand retail is allowed. FDI in Railway infrastructure is recently approved upto 100%.

5)   Invest India is a
- Published on 07 Aug 15

a. Special Purpose Vehicle
b. Scheme
c. PSU
d. E-Portal for foreign Investors
Answer  Explanation 

ANSWER: Special Purpose Vehicle

Explanation:
It acts as a first point of reference to provide inputs on all aspects of doing business in India, guide investors on all policy and regulatory issues, provide handholding services to investors, etc.

6)   How many industrial sectors are currently reserved for public sector?
- Published on 07 Aug 15

a. 20
b. 3
c. 8
d. 2
Answer  Explanation 

ANSWER: 2

Explanation:
Only 2 – Atomic Energy and Railway operations other than construction, operation and maintenance.

7)   The Madrid protocol is related to
- Published on 07 Aug 15

a. International effort in waste disposal
b. International effort in conserving coastal areas and islands
c. International Cooperation in Tourism
d. International Trade Marks
Answer  Explanation 

ANSWER: International Trade Marks

Explanation:
Trade Mark (Amendment) Bill enabled India to accede to the Madrid Protocol. India’s membership will enable Indian companies to register their trade marks in Member Countries through filing a single application in one language and by paying onetime fee in one currency.
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