Manufacturing Competitiveness and Global Trade

Description: Manufacturing Competitiveness and Global Trade
Number of Questions: 15
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What is the primary objective of the Make in India initiative?

  1. To increase foreign direct investment in India.

  2. To promote domestic manufacturing and reduce imports.

  3. To create employment opportunities in the manufacturing sector.

  4. To enhance the export competitiveness of Indian products.


Correct Option: B
Explanation:

The Make in India initiative aims to boost domestic manufacturing and reduce reliance on imports by encouraging investment in the manufacturing sector, improving infrastructure, and streamlining regulations.

Which sector has been identified as a key focus area under the Make in India initiative?

  1. Automobile

  2. Textiles

  3. Pharmaceuticals

  4. Electronics


Correct Option: D
Explanation:

The electronics sector has been identified as a key focus area under the Make in India initiative due to its potential to drive economic growth, create employment opportunities, and reduce import dependence.

What is the goal of the National Manufacturing Policy (NMP) 2011?

  1. To increase the contribution of the manufacturing sector to GDP.

  2. To create employment opportunities in the manufacturing sector.

  3. To enhance the export competitiveness of Indian products.

  4. To promote sustainable manufacturing practices.


Correct Option: A
Explanation:

The NMP 2011 aims to increase the contribution of the manufacturing sector to GDP from 16% to 25% by 2022, thereby creating employment opportunities and boosting economic growth.

Which scheme provides financial assistance to micro, small, and medium enterprises (MSMEs) for technology upgradation?

  1. Credit Linked Capital Subsidy Scheme (CLCSS)

  2. Pradhan Mantri Mudra Yojana (PMMY)

  3. Stand Up India Scheme

  4. Make in India Scheme


Correct Option: A
Explanation:

The CLCSS provides financial assistance to MSMEs for technology upgradation by offering a capital subsidy of 15% on the cost of new machinery and equipment.

What is the purpose of the Foreign Trade Policy (FTP) of India?

  1. To promote exports and reduce imports.

  2. To regulate and facilitate international trade.

  3. To protect domestic industries from foreign competition.

  4. To negotiate trade agreements with other countries.


Correct Option: A
Explanation:

The FTP aims to promote exports and reduce imports by providing incentives to exporters, simplifying export procedures, and negotiating trade agreements with other countries.

Which organization is responsible for promoting and facilitating exports from India?

  1. Directorate General of Foreign Trade (DGFT)

  2. Export Promotion Council (EPC)

  3. Federation of Indian Export Organizations (FIEO)

  4. Ministry of Commerce and Industry


Correct Option: A
Explanation:

The DGFT is the nodal agency responsible for promoting and facilitating exports from India. It formulates and implements export policies, issues export licenses, and provides assistance to exporters.

What is the significance of Special Economic Zones (SEZs) in India?

  1. They offer tax and regulatory incentives to attract investments.

  2. They promote exports and create employment opportunities.

  3. They facilitate the development of infrastructure and technology.

  4. All of the above.


Correct Option: D
Explanation:

SEZs in India offer tax and regulatory incentives to attract investments, promote exports and create employment opportunities, and facilitate the development of infrastructure and technology.

Which country is India's largest trading partner?

  1. China

  2. United States

  3. United Arab Emirates

  4. Japan


Correct Option: A
Explanation:

China is India's largest trading partner, accounting for a significant share of India's imports and exports.

What is the impact of global trade on India's economy?

  1. It promotes economic growth and job creation.

  2. It increases competition and improves consumer welfare.

  3. It helps in the transfer of technology and knowledge.

  4. All of the above.


Correct Option: D
Explanation:

Global trade has a positive impact on India's economy by promoting economic growth, creating jobs, increasing competition, improving consumer welfare, and facilitating the transfer of technology and knowledge.

What are the challenges faced by India in enhancing its manufacturing competitiveness?

  1. High cost of labor

  2. Lack of skilled workforce

  3. Inadequate infrastructure

  4. All of the above.


Correct Option: D
Explanation:

India faces challenges in enhancing its manufacturing competitiveness due to high labor costs, lack of skilled workforce, inadequate infrastructure, and other factors.

What are some of the initiatives taken by the government to improve India's global trade competitiveness?

  1. Reducing trade barriers

  2. Promoting foreign direct investment

  3. Developing export-oriented infrastructure

  4. All of the above.


Correct Option: D
Explanation:

The government has taken various initiatives to improve India's global trade competitiveness, including reducing trade barriers, promoting foreign direct investment, developing export-oriented infrastructure, and implementing trade facilitation measures.

What is the role of technology in enhancing manufacturing competitiveness?

  1. It improves productivity and efficiency.

  2. It reduces costs and improves quality.

  3. It facilitates innovation and product development.

  4. All of the above.


Correct Option: D
Explanation:

Technology plays a crucial role in enhancing manufacturing competitiveness by improving productivity, reducing costs, improving quality, facilitating innovation, and enabling product development.

How does global trade affect the environment?

  1. It can lead to increased pollution and resource depletion.

  2. It can promote the adoption of environmentally friendly technologies.

  3. It can create opportunities for sustainable development.

  4. All of the above.


Correct Option: D
Explanation:

Global trade can have both positive and negative impacts on the environment. It can lead to increased pollution and resource depletion, but it can also promote the adoption of environmentally friendly technologies and create opportunities for sustainable development.

What are some of the key factors that determine a country's manufacturing competitiveness?

  1. Cost of labor

  2. Availability of skilled workforce

  3. Infrastructure quality

  4. Technological advancement


Correct Option:
Explanation:

A country's manufacturing competitiveness is determined by a combination of factors, including cost of labor, availability of skilled workforce, infrastructure quality, technological advancement, and other factors.

How can a country improve its manufacturing competitiveness?

  1. By investing in education and training to develop a skilled workforce.

  2. By improving infrastructure to reduce transportation and logistics costs.

  3. By promoting innovation and technological advancement.

  4. All of the above.


Correct Option: D
Explanation:

A country can improve its manufacturing competitiveness by investing in education and training to develop a skilled workforce, improving infrastructure to reduce transportation and logistics costs, promoting innovation and technological advancement, and implementing other strategies to enhance productivity and efficiency.

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