Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:
What commitments has India made in the WTO?
Options:
Reducing tariff rates
Imposing quantitative restrictions on imports
Increasing agricultural subsidies
Limiting market access for developed countries
Correct Answer:
Reducing tariff rates
Explanation:
India has made commitments in the WTO to liberalize trade by reducing tariff rates and removing quantitative restrictions on imports. This is aimed at facilitating greater market access for member countries.