Question:
The Trade Policy Reforms are aimed at which of the following:
A. Dismantling quantitative restrictions on import and exports
B. Reduction of tariff rates
C. Removal of licensing procedures for imports
The Trade Policy Reforms are aimed at which of the following:
A. Dismantling quantitative restrictions on import and exports
B. Reduction of tariff rates
C. Removal of licensing procedures for imports
A. Dismantling quantitative restrictions on import and exports
B. Reduction of tariff rates
C. Removal of licensing procedures for imports
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Trade policy reforms in India were aimed at enhancing global trade by removing barriers like tariffs, licenses, and import restrictions.
Updated On: Feb 15, 2025
- A and B only
- B and C only
- A and C only
- A, B and C
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The Correct Option is D
Solution and Explanation
The Trade Policy Reforms initiated by India in the 1990s focused on several aspects aimed at liberalizing and modernizing the economy:
- Dismantling quantitative restrictions on imports and exports to promote free trade.
- Reduction of tariff rates to encourage international trade and reduce the protectionist measures.
- Removal of licensing procedures for imports to facilitate easier access to global markets. Thus, the correct answer is (D) A, B and C.
- Dismantling quantitative restrictions on imports and exports to promote free trade.
- Reduction of tariff rates to encourage international trade and reduce the protectionist measures.
- Removal of licensing procedures for imports to facilitate easier access to global markets. Thus, the correct answer is (D) A, B and C.
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