Tag: procedure and documents used in foreign trade

Questions Related to procedure and documents used in foreign trade

The average total export during the first 15 years of planning was ______ percent of net national product.

business organisation conditions of purchase and sale and documents used in foreign trade foreign invoice procedure and documents used in foreign trade export and import procedures

  1. 2.8

  2. 3.8

  3. 4.8

  4. 5.8

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Correct Option: D

The main causes for the slow growth of export are
I. Neglect of export sector in the development strategy of planning
II. Mounting inflationary pressure in economy
III. Slow expansion of industries producing export goods
IV. Export control and tariff barriers
Of these :

business organisation conditions of purchase and sale and documents used in foreign trade foreign invoice procedure and documents used in foreign trade export and import procedures

  1. I and II are correct

  2. III and IV are correct

  3. II and IV are correct

  4. All are correct

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Correct Option: D

The total value of India's international trade in 1995-96 was _________.

business organisation conditions of purchase and sale and documents used in foreign trade foreign invoice procedure and documents used in foreign trade export and import procedures

  1. Rs. 2,29,031 crores

  2. Rs. 28,110 crores

  3. Rs. 110 crores

  4. Rs. 1,18,110 crores

Show answer
Correct Option: A
Explanation:

The indian international trade consisited of exports of  1,06,353 crore and imports of 1,22,678 crore which sums up to 2,29,031 crores.

The figures of imports and exports went up due to the following :
  1. Liberalization : The act of liberaization gave the businessman to export goods and services and import new technologies which were diffcult to gain earlier.
  2. Privatization : The privatization played a very important role in increasing these figures of import and export . privatization increased the efficiency of the companies and made ease in the business licensing process which lead to imports and exports on higher pace.
  3. Globalization : The act of globalization had a huge contribution in imports and exports . The indian economy got connected to world economy,which helped to reach at level where the imports and exports are today.

In 1995-96, India's total exports have increased to ___________.

business organisation conditions of purchase and sale and documents used in foreign trade foreign invoice procedure and documents used in foreign trade export and import procedures

  1. Rs. 605 crores

  2. Rs. 1,06353 crores

  3. Rs. 2,06,465 crores

  4. Rs. 5,60,465 crores

Show answer
Correct Option: B
Explanation:

The exports of the financial year 1995-96 was 1,06,353  crore its was due to several reasons like:

  1. Export policies : The policies which were introduced during the period were favourable to exporters.
  2. Support from the financial institutions : financial institutions like EXIM (export import bank of india) also provided financial assistance to exporters and tried to export goods, services etc to foriegn countries.
  3. Privatization : the most important reason the exports increased was private companies, delicensing etc which influenced the people to manufacture products and services and export to foriegn countries.
This were the reasons why the exports in the year 1995-96 went high.

Upto 1966, India's share in the world export was ______________.

business organisation conditions of purchase and sale and documents used in foreign trade foreign invoice procedure and documents used in foreign trade export and import procedures

  1. 1  percent

  2. 10 per cent

  3. 12 per cent

  4. 15 per cent

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Correct Option: A

What is the principal item of export in India (1992-93)?

business organisation conditions of purchase and sale and documents used in foreign trade foreign invoice procedure and documents used in foreign trade export and import procedures

  1. Pepper

  2. Oil cakes

  3. Coffee

  4. Handicrafts

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Correct Option: D

When was the export-import policy 1992-97 announced by the government?

business organisation conditions of purchase and sale and documents used in foreign trade foreign invoice procedure and documents used in foreign trade export and import procedures

  1. March 31, 1991

  2. March 31, 1992

  3. March 31, 1993

  4. March 31, 1994

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Correct Option: B
Explanation:

The export and import policy was announced on 31st march 1992 which was announced by goverment of india to liberalize the imports and boost the imports.

Indian imports can be classified into _____________.

business organisation conditions of purchase and sale and documents used in foreign trade foreign invoice procedure and documents used in foreign trade export and import procedures

  1. 2 categories

  2. 3 categories

  3. 4 categories

  4. 5 categories

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Correct Option: B

At the time of independence, the three most important commodities in India's exports were _______________________.

business organisation conditions of purchase and sale and documents used in foreign trade foreign invoice procedure and documents used in foreign trade export and import procedures

  1. Pepper, Cashew Kernel and Oil Cakes

  2. Jute, Tea and Cotton Textiles

  3. Coffee, Tea and Pepper

  4. Wool, Mica and Vegetable Oils

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Correct Option: B
Explanation:

During 1950-51, India’s total export was Rs. 606 crores of which agricultural products like jute, tea, textiles accounted for more than 50 percent of the export earnings. 

What was the growth rate of export in India in 1993-94?

business organisation conditions of purchase and sale and documents used in foreign trade foreign invoice procedure and documents used in foreign trade export and import procedures

  1. 10 per cent

  2. 15 per cent

  3. 21 per cent

  4. 28 per cent

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Correct Option: C