Which of the following are parts of regional and global economic grou…

Which of the following are parts of regional and global economic groupings?

(A) SAARC

(B) IMF

(D) ASEAN

Choose the correct answer from the options given below:

Answer & explanation

Correct answer: option 2

The correct answer is Option (2) → (A), (C) and (D) only

Few countries can grow on their own today, so neighbouring nations, or nations with common interests, join hands to cooperate in trade and development and strengthen their own economies. Such clubs of member countries are regional and global economic groupings, for example the SAARC, the European Union, ASEAN, G-8, G-20 and BRICS.

(A) SAARC Included. The South Asian Association for Regional Cooperation is a regional grouping of South Asian countries, India and Pakistan among them.

(B) IMF Not included. The International Monetary Fund is an international financial institution that lends to countries facing balance of payments difficulties. It is a lending body, not a grouping of nations for regional cooperation.

(C) European Union Included. The European Union is a regional grouping of European countries with a common market.

(D) ASEAN Included. The Association of Southeast Asian Nations is a regional grouping of the countries of South-East Asia.

NCERT (2025-26): “8.1 Introduction … 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.…”