Topic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
3. Do you agree that India needs to have an open mind on trade in an economically interconnected and technologically inseparable world? Comment and suggest measures to be taken in this aspect. (250 words)
Reference: The Hindu
Why this question:
The article is in the backdrop of the recent India’s international trade posture that has appeared to turn protectionist in the past week.
Key demand of the question:
The answer must discuss the need for India to have an open mind on trade in an economically interconnected and technologically inseparable world. And suggest what Indian policy makers should do to achieve the same.
Comment– here we have to express our knowledge and understanding of the issue and form an overall opinion thereupon.
Structure of the answer:
Briefly explain the context of the question.
Explain the nature of present globalization and technological advancements in the world. Present your opinion if India should open its doors in discussing Free Trade Agreements or remain cautious about its domestic manufacturers. Discuss the probable consequences of such a move. Suggest suitable measures to be taken in this regard.
Conclude with way ahead.