India Identifies 300 Items to Boost Trade with Russia

1. Consider the following statements regarding India's trade relations with Russia: 1. The primary objective of identifying 300 items for export is to reduce the trade deficit with Russia. 2. This initiative is solely focused on exporting agricultural products to Russia. 3. The current geopolitical scenario has no impact on India's trade strategy with Russia. Which of the statements given above is/are correct?

• A.1 only
• B.2 and 3 only
• C.1 and 3 only
• D.1, 2 and 3

2. In the context of India's efforts to boost trade with Russia, which of the following factors is MOST likely to pose a significant challenge?

• A.Lack of demand for Indian goods in Russia
• B.Western sanctions and related financial restrictions
• C.High transportation costs between India and Russia
• D.Absence of a Free Trade Agreement between the two countries

3. Which of the following statements is NOT correct regarding the 'Rupee-Ruble' payment mechanism, often discussed in the context of India-Russia trade?

• A.It aims to facilitate trade in local currencies to bypass the US dollar.
• B.It eliminates the need for currency conversion, reducing transaction costs.
• C.It is primarily designed to benefit only Russian exporters.
• D.It helps in mitigating the impact of sanctions imposed by Western countries.

4. Assertion (A): India is actively seeking to diversify its trade partners and reduce reliance on traditional markets. Reason (R): Geopolitical uncertainties and supply chain disruptions have highlighted the vulnerability of concentrated trade relationships. In the context of the above statements, which of the following is correct?

• A.Both A and R are true, and R is the correct explanation of A.
• B.Both A and R are true, but R is NOT the correct explanation of A.
• C.A is true, but R is false.
• D.A is false, but R is true.