Question : Trade liberalisation has helped India improve its _____________ in industries with medium-to-high technology content.
Option 1: imports
Option 2: fuel efficiency
Option 3: labour intensity
Option 4: comparative advantage
Correct Answer: comparative advantage
Solution : The correct answer is comparative advantage.
Trade liberalisation has helped India enhance its comparative advantage in industries with medium-to-high technology content. Following the introduction of Liberalisation, Privatisation and Globalisation (LPG) reforms, numerous new opportunities arose for economic growth. Trade liberalisation has brought about many advantages:
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Question : Which state of India has the largest reserves of monazite, with a high thorium content?
Option 1: Kerala
Option 2: Karnataka
Option 3: Gujarat
Option 4: Maharashtra
Question : According to the Industrial Policy Resolution 1956, how many categories were the industries classified in India?
Option 1: 5
Option 2: 4
Option 3: 3
Option 4: 2
Question : Which article of the Constitution of India prohibits forced labour?
Option 1: Article 23
Option 2: Article 21
Option 3: Article 22
Option 4: Article 20
Question : How many times has India won the ICC T20 Men’s World Cup in cricket?
Option 1: 3
Option 2: 2
Option 3: 1
Option 4: 4
Question : In which year was the Small Industries Development Bank of India (SIDBI) set up?
Option 1: 1990
Option 2: 1988
Option 3: 1989
Option 4: 1987
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