The Evolution of Economic Integration in India: Tracing the Journey
Test your knowledge on the evolution of economic integration in India by answering the following questions.
Questions
Which of the following is NOT a stage in the evolution of economic integration?
- Free Trade Area
- Customs Union
- Common Market
- Economic Union
The first step towards economic integration in India was taken with the formation of which organization?
- South Asian Association for Regional Cooperation (SAARC)
- Association of Southeast Asian Nations (ASEAN)
- Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC)
- Indian Ocean Rim Association for Regional Cooperation (IOR-ARC)
Which of the following is NOT a member of SAARC?
- India
- Pakistan
- Bangladesh
- Sri Lanka
- Nepal
- Bhutan
- Maldives
- Afghanistan
The SAARC Preferential Trading Arrangement (SAPTA) was signed in which year?
- 1993
- 1995
- 1997
- 2000
The South Asian Free Trade Area (SAFTA) was established in which year?
- 2004
- 2006
- 2008
- 2010
Which of the following is NOT a benefit of economic integration?
- Increased trade
- Reduced costs
- Improved efficiency
- Increased competition
The evolution of economic integration in India has been driven by which of the following factors?
- Globalization
- Regionalism
- Bilateralism
- Multilateralism
Which of the following is NOT a challenge to economic integration in India?
- Differences in economic development
- Political instability
- Lack of infrastructure
- Cultural diversity
The future of economic integration in India is likely to be shaped by which of the following factors?
- Globalization
- Regionalism
- Bilateralism
- Multilateralism
Which of the following is NOT a potential benefit of economic integration in India?
- Increased trade
- Reduced costs
- Improved efficiency
- Increased inequality