Q. Consider the following statements:
1.The value of Indo-Sri Lanka trade has consistently increased in the last decade.
2.“Textile and textile articles” constitute an important item of trade between India and Bangladesh.
3.In the last five years, Nepal has been the largest trading partner of India in South Asia.
Which of the statements given above is/are correct?
a) 1 and 2 only
b) 2 only
c) 3 only
d) 1, 2 and 3
Correct Answer : b) 2 only
Question from UPSC Prelims 2020 GS Paper
Explanation:
India and Bangladesh Trade
Textiles and textile articles are a significant part of the trade between India and Bangladesh. India exports a substantial amount of cotton, apparel, and textile products to Bangladesh. The textile industry is a key sector in Bangladesh, and the country relies on imports of raw materials, especially from India, to support its garment manufacturing industry, which is one of the largest in the world.
Statement 1 is not correct: As per data from the Department of Commerce, Indo-Sri Lanka bilateral trade value for a decade (2007 to 2016) was 3.0, 3.4, 2.1, 3.8, 5.2, 4.5, 5.3, 7.0, 6.3, 4.8 (in billion USD). It reflects the continuous fluctuation in the trend of trade value.
Statement 3 is not correct: Bangladesh is India’s largest trading partner in South Asia
