International Relations

Question 1

Benefits to India by ECTA with Australia

Answer 1

1. Bilateral Trade = 45 bn dollars in next 5 years compared to current 31 bn
2. Relief for labour extensive exports
3. Investments and employment
4. Cheaper raw materials
5. Boost in pharmaceuticals
6. Resolution of double taxation in ITeS
7. Change in Global perception of India being a protectionist country

Question 2

What is the G20

Answer 2

A grouping of the worlds developed and emerging economies along with the European Union. Accounting 85% of Global GDP and 2/3rd of world population

Objectives
Policy coordination between its members in order to achieve global economic stability, sustainable growth; Promote financial regulations that reduce risks and prevent future financial crises; Create a new international financial architecture.

Question 3

ASEAN

Answer 3

Association of South East Asian Nations with 8 Dialogue partners for the promotion of security and defence, stability and development in the region.

Question 4

CEPA

Answer 4

Comprehensive Economic Partnership Agreement is a comprehensive Free Trade Agreement

India has signed such an agreement with UAE, South Korea and Japan

Question 5

I2U2

Answer 5

India ; Israel ; UAE ; US grouping

Objective : Develop in areas of mutual interest

Water, Energy, Health, Transportation, Space, Food Security