In the question given below there are 2 statements marked as Assertion (A) and Reason (R). Choose the correct alternative from the following options.

Assertion (A)- Various nations have been primarily trying to adopt different means which will strengthen their own domestic economies.

Reason (R)- Various nations are forming regional and global economic groupings such as the SAARC, European Union, ASEAN, G-8, G-20, BRICS etc.

Both (A) and (R) are true and (R) is the correct explanation.

The correct answer is Option 1: Both (A) and (R) are true and (R) is the correct explanation.

Assertion (A)- Various nations have been primarily trying to adopt different means which will strengthen their own domestic economies. This is true.

Reason (R)- Various nations are forming regional and global economic groupings such as the SAARC, European Union, ASEAN, G-8, G-20, BRICS etc. This is true.

While both statements are true, the reason does not accurately explain the assertion. The focus on domestic economies is a separate strategy that can complement the participation in regional and global economic groupings.

" Over the last two decades or so, the economic transformation that is taking place in different countries across the world, partly because of the process of globalisation, has both short as well as long-term implications for each country, including India. Nations have been primarily trying to adopt various means which will strengthen their own domestic economies. To this effect, they are forming regional and global economic groupings such as the SAARC, European Union, ASEAN, G-8, G-20, BRICS etc. In addition, there is also an increasing eagerness on the parts of various nations to try and understand the developmental processes pursued by their neighbouring nations as it allows them to better comprehend their own strengths and weaknesses vis-à-vis their neighbours. In the unfolding process of globalisation, this is particularly considered essential by developing countries as they face competition not only from developed nations but also amongst themselves in the relatively limited economic space enjoyed by the developing world. Besides, an understanding of the other economies in our neighbourhood is also required as all major common economic activities in the region impinge on overall human development in a shared environment."