[Solved] With reference to the international trade of India at present, which of the following statements is/are correct? 1. India’s merchandise exports are less than its merchandise imports. 2. India’s imports of iron and steel, chemicals, fertilisers and machinery have decreased in recent years. 3. India’s exports of services are more than its imports of services. 4. India suffers from an overall trade/current account deficit.

Q82. With reference to the international trade of India at present, which of the following statements is/are correct?

1. India’s merchandise exports are less than its merchandise imports.

2. India’s imports of iron and steel, chemicals, fertilisers and machinery have decreased in recent years.

3. India’s exports of services are more than its imports of services.

4. India suffers from an overall trade/current account deficit.

Select the correct answer using the code given below:

A. 1 and 2

B. 2 and 4 only

C. 3 only

D. 1, 3 and 4 only

Answer: D

According to Ministry of Commerce and Industry

SERVICES TRADE:

• The estimated value of services export for February 2025* is USD 35.03 Billion as compared to USD 28.33 Billion in February 2024.

• The estimated value of services imports for February 2025* is USD 16.55 Billion as compared to USD 15.23 Billion in February 2024.

• The estimated value of service exports during April-February 2024-25* is USD 354.90 Billion as compared to USD 311.05 Billion in April-February 2023-24.

• The estimated value of service imports during April-February 2024-25* is USD 183.21 Billion as compared to USD 161.71 Billion in April-February 2023-24.

• The services trade surplus for April-February 2024-25* is USD 171.69 Billion as compared to USD 149.34 Billion in April-February 2023-24.