The United Nations Conference on Trade and Development (UNCTAD) Report in 1972 deals with:

Reform of the global trading system

The correct answer is Option (1) → Reform of the global trading system

" The United Nations Conference on Trade and Development (UNCTAD) brought out a report in 1972 entitled Towards a New Trade Policy for Development. The report proposed a reform of the global trading system so as to:

(i) give the LDCs control over their natural resources exploited by the developed Western countries,

(ii) obtain access to Western markets so that the LDCs could sell their products and, therefore, make trade more beneficial for the poorer countries,

(iii) reduce the cost of technology from the Western countries, and

(iv) provide the LDCs with a greater role in international economic institutions.

Note: this is a question from pre rationalised NCERT book from the Chapter "The Cold War Era" which is not there in the new NCERT book.