{"id":98020,"date":"2020-07-19T14:13:06","date_gmt":"2020-07-19T14:13:06","guid":{"rendered":"https:\/\/www.edristi.in\/?p=98020"},"modified":"2020-07-19T14:13:08","modified_gmt":"2020-07-19T14:13:08","slug":"bilateral-trade","status":"publish","type":"post","link":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/bilateral-trade\/","title":{"rendered":"Bilateral trade"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Question:Ministry of Commerce and Industry has released the data on Bilateral trade between India-US for 2019-20.Consider the following statements:<\/strong><br>1) US has surpassed China to become India\u2019s top trading partner.<br>2) Bilateral trade between the US and India increased from 2018-19 to 2019-20.<br>3) The trade deficit between India and China has also increased.<br>Which is\/are correct?<br>(a) 1 and 2<br>(b) 2 and 3<br>(c) 1 and 3<br>(d) 1,2 and 3<br><strong>Answer : (a)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Context:<\/strong><\/li><li>Ministry of Commerce and Industry has released the data on Bilateral trade between India-US for 2019-20.<\/li><li><strong>Takeaways:<\/strong><\/li><li><strong>Largest Trading Partner:\u00a0<\/strong>United States(US) has remained India\u2019s top trading partner for the second consecutive fiscal in 2019-20.The bilateral trade between the US and India stood at $ 88.75 billion in 2019-02 as against $87.96 billion in 2018-19.<\/li><li><strong>Trade Surplus:\u00a0<\/strong>US is one of the few countries with which India has a trade surplus.The trade gap between the countries has increased to $17.42 billion in 2019-20 from $16.86 billion in 2018-19.<\/li><li><strong>China:\u00a0<\/strong>In 2018-19, US first surpassed China to become India\u2019s top trading partner.The bilateral trade between India and China has dipped to $81.87 billion in 2019-20 from $87.08 billion in 2018-19.<\/li><li><strong>Trade deficit:\u00a0<\/strong>The trade deficit between India and China has also declined to $48.66 billion in 2019-20 from $53.57 billion in 2018-19.<\/li><li><strong>Facts:<\/strong><\/li><li><strong>Trade Surplus:\u00a0<\/strong>It is an economic measure of a positive balance of trade, where a country\u2019s exports exceed its imports.<\/li><li><strong>Trade Deficit:\u00a0<\/strong>It occurs when a country\u2019s imports exceed its exports during a given time period.It is also referred to as a negative balance of trade(BOT).<\/li><\/ul>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><strong>By-Arpit Mishra<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Links:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a aria-label=\"undefined (opens in a new tab)\" href=\"https:\/\/www.businesstoday.in\/current\/economy-politics\/india-us-inch-closer-to-signing-limited-trade-deal-bilateral-free-trade-agreement-a-possibility\/story\/410148.html\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.businesstoday.in\/current\/economy-politics\/india-us-inch-closer-to-signing-limited-trade-deal-bilateral-free-trade-agreement-a-possibility\/story\/410148.html<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Question:Ministry of Commerce and Industry has released the data on Bilateral trade between India-US for 2019-20.Consider the following statements:1) US has surpassed China to become India\u2019s top trading partner.2) Bilateral trade between the US and India increased from 2018-19 to 2019-20.3) The trade deficit between India and China has also increased.Which is\/are correct?(a) 1 and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":98021,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1151],"tags":[2346],"class_list":["post-98020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tta","tag-treaty-agreements"],"_links":{"self":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/98020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/comments?post=98020"}],"version-history":[{"count":0,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/98020\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/media\/98021"}],"wp:attachment":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/media?parent=98020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/categories?post=98020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/tags?post=98020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}