The figure shows two trade agreements of India. Agreement X is between India and one other country. Agreement Y is a single agreement among India and four other countries.
Agreements X and Y are examples of:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → X: bilateral trade agreement; Y: multilateral trade agreement
A bilateral trade agreement is between two countries. Agreement X, between India and one other country, is bilateral.
A multilateral trade agreement is made with more than two nations. Agreement Y, among India and four other countries, is multilateral.
NCERT (2026-27): Glossary: “Bilateral Trade Agreements – The agreements relating to exchange of commodities or services between two countries.” Glossary: “Multilateral Trade Agreements – Trade agreements made by a country with more than two nations to exchange goods and services.” |