Consider the following statements 1 In India during the financial year 2004 2005 an increase of belo...........

Economic Affairs Foreign Trade - Trends and Policy

Consider the following statements

1.In India, during the financial year 2004 - 2005 an increase of below 10% over the value of exports (in rupee terms) in the financial year 2003 - 2004 was reported.

2.According to the WTO, India’s share in the world merchandise exports 2% in the year 2005.

Which of the statements given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

Neither 1 nor 2

Neither of the statements is accurate.

Incorrect: In India, during the financial year 2004-2005, the increase in the value of exports (in rupee terms) was more than 10% over the financial year 2003-2004.

Incorrect: According to the WTO, India's share in world merchandise exports was not 2% in the year 2005; it was lower.