Economic & Trade Groupings UPSC PYQ — WTO, BRICS, G20, RCEP & More

‘Broad-based Trade and Investment Agreement (BTIA)’ is sometimes seen in the news in the context of negotiations held between India and:

1. AEuropean Union
2. BGulf Cooperation Council
3. COrganization for Economic Cooperation and Development
4. DShanghai Cooperation Organization

Consider the following statements with regard to BRICS:

I. 16th BRICS Summit was held under the Chairship of Russia in Kazan.
II. Indonesia has become a full member of BRICS.
III. The theme of the 16th BRICS Summit was 'Strengthening Multiculturalism for Just Global Development and Security'.

1. AI and II
2. BII and III
3. CI and III
4. DI only

Which organization has enacted the Nature Restoration Law (NRL) to tackle climate change and biodiversity loss?

1. AThe European Union
2. BThe World Bank
3. CThe Organization for Economic Cooperation and Development
4. DThe Food and Agriculture Organization

Consider the following statements about G-20:

1. The G-20 group was originally established as a platform for the Finance Ministers and Central Bank Governors to discuss international economic and financial issues.
2. Digital public infrastructure is one of India's G-20 priorities.

Which of the statements given above is/are correct?

1. A1 only
2. B2 only
3. CBoth 1 and 2
4. DNeither 1 nor 2

Consider the following:

1. Asian Infrastructure Investment Bank
2. Missile Technology Control Regime
3. Shanghai Cooperation Organisation

India is a member of which of the above?

1. A1 and 2 only
2. B3 only
3. C2 and 3 only
4. D1, 2 and 3

With reference to the 'G20 Common Framework', consider the following statements:

1. It is an initiative endorsed by the G20 together with the Paris Club.
2. It is an initiative to support Low Income Countries with unsustainable debt.

Which of the statements given above is/are correct?

1. A1 only
2. B2 only
3. CBoth 1 and 2
4. DNeither 1 nor 2

In which one of the following groups are all the four countries members of G20?

1. AArgentina, Mexico, South Africa, and Turkey
2. BAustralia, Canada, Malaysia, and New Zealand
3. CBrazil, Saudi Arabia, and Vietnam
4. DIndonesia, Japan, Singapore, and South Korea

With reference to Asian Infrastructure Investment Bank (AIIB), consider the following statements:

1. AIIB has more than 80 member nations.
2. India is the largest shareholder in AIIB.
3. AIIB does not have any members from outside Asia.

Which of the statements given above is/are correct?

1. A1 only
2. B2 and 3 only
3. C1 and 3 only
4. D1, 2 and 3

Consider the following countries:

1. Australia
2. Canada
3. China
4. India
5. Japan
6. USA

Which of the above are among the 'free-trade partners' of ASEAN?

1. A1, 2, 4 and 5 only
2. B3, 4, 5 and 6 only
3. C1, 3, 4 and 5 only
4. D2, 3, 4 and 6 only

Consider the following statements:

1. India has ratified the Trade Facilitation Agreement (TFA) of WTO.
2. TFA is a part of WTO's Bali Ministerial Package of 2013.
3. TFA came into force in January 2016.

1. A1 and 2 only
2. B1 and 3 only
3. C2 and 3 only
4. D1, 2 and 3

With reference to a grouping of countries known as BRICS, consider the following statements:

1. The First Summit of BRICS was held in Rio de Janeiro in 2009.
2. South Africa was the last to join the BRICS grouping.

Which of the statements given above is/are correct?

1. A1 only
2. B2 only
3. CBoth 1 and 2
4. DNeither 1 nor 2

Consider the following statements:

1. India is a member of the International Grains Council.
2. A country needs to be a member of the International Grains Council for exporting or importing rice and wheat.

Which of the statements given above is/are correct?

1. A1 only
2. B2 only
3. CBoth 1 and 2
4. DNeither 1 nor 2

Consider the following statements:

Statement-I: The European Parliament approved The Net-Zero Industry Act recently.
Statement-II: The European Union intends to achieve carbon neutrality by 2040 and therefore aims to develop all of its own clean technology by that time.

Which one of the following is correct in respect of the above statements?

1. ABoth Statement-I and Statement-II are correct and Statement-II explains Statement-I
2. BBoth Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
3. CStatement-I is correct, but Statement-II is incorrect
4. DStatement-I is incorrect, but Statement-II is correct

Which one of the following is the correct description of “100 Million Farmers”?

1. AIt is a platform for accelerating the transition towards food and water systems that are net-zero (carbon), nature-positive, and that aims to increase farmer resilience.
2. BIt is an international alliance and a network of individuals and farming organisations interested in supporting and strengthening the development of organic animal husbandry.
3. CIt is a digital platform fully integrated with service providers and built on blockchain that lets buyers, sellers, and third parties trade fertilizers quickly and securely.
4. DIt is a platform with the mission of encouraging farmers to form Farmer Product Organisations or Agribusiness Consortiums, thus facilitating access to global open markets to sell their products.

Consider the following statements:

Statement-I: Recently, the United States of America (USA) and the European Union (EU) have launched the Trade and Technology Council.
Statement-II: The USA and the EU claim that through this they are trying to bring technological progress and physical productivity under their control.

Which one of the following is correct in respect of the above statements?

1. ABoth Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I
2. BBoth Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I
3. CStatement-I is correct but Statement-II is incorrect
4. DStatement-I is incorrect but Statement-II is correct

The ‘Stability and Growth Pact’ of the European Union is a treaty that:

1. limits the levels of the budgetary deficit of the countries of the European Union
2. makes the countries of the European Union share their infrastructure facilities
3. enables the countries of the European Union to share their technologies

How many of the above statements are correct?

1. AOnly one
2. BOnly two
3. CAll three
4. DNone

The Global Infrastructure Facility is a/an:

1. AASEAN initiative to upgrade infrastructure in Asia and financed by credit from the Asian Development Bank.
2. BWorld Bank collaboration that facilitates the preparation and structuring of complex infrastructure Public-Private Partnerships (PPPs) to enable mobilization of private sector and institutional investor capital.
3. CCollaboration among the major banks of the world working with the OECD and focused on expanding the set of infrastructure projects that have the potential to mobilize private investment.
4. DUNCTAD-funded initiative that seeks to finance and facilitate infrastructure development in the world.

The term ‘Digital Single Market Strategy’ seen in the news refers to:

1. AASEAN
2. BBRICS
3. CEU
4. DG20

With reference to the ‘Trans-Pacific Partnership’, consider the following statements:

1. It is an agreement among all the Pacific Rim countries except China and Russia.
2. It is a strategic alliance for the purpose of maritime security only.

Which of the statements given above is/are correct?

1. A1 only
2. B2 only
3. CBoth 1 and 2
4. DNeither 1 nor 2

‘European Stability Mechanism’, sometimes seen in the news, is an:

1. AAgency created by EU to deal with the impact of millions of refugees arriving from the Middle East
2. BAgency of EU that provides financial assistance to eurozone countries
3. CAgency of EU to deal with all the bilateral and multilateral agreements on trade
4. DAgency of EU to deal with the conflicts arising among the member countries

The term ‘Regional Comprehensive Economic Partnership’ often appears in the news in the context of the affairs of a group of countries known as:

1. AG20
2. BASEAN
3. CSCO
4. DSAARC

Which of the following adopted a law on data protection and privacy for its citizens known as ‘General Data Protection Regulation’ in April 2016 and started implementation of it from 25th May, 2018?

1. AAustralia
2. BCanada
3. CThe European Union
4. DThe United States of America

Consider the following statements regarding AI Action Summit held in Grand Palais, Paris in February 2025:

I. Co-chaired with India, the event builds on the advances made at the Bletchley Park Summit held in 2023 and the Seoul Summit held in 2024.
II. Along with other countries, US and UK also signed the declaration on inclusive and sustainable AI.

Which of the statements given above is/are correct?

1. AI only
2. BII only
3. CBoth I and II
4. DNeither I nor II

Consider the following statements:

1. Vietnam has been one of the fastest-growing economies in the world in recent years.
2. Vietnam is led by a multi-party political system.
3. Vietnam's economic growth is linked to its integration with global supply chains and focus on exports.
4. For a long time, Vietnam's low labour costs and stable exchange rates have attracted global manufacturers.
5. Vietnam has the most productive e-service sector in the Indo-Pacific region.

Which of the statements given above are correct?

1. A2 and 4
2. B3 and 5
3. C1, 3 and 4
4. D1 and 2