Regional Trade Agreements — Prelims Questions

Consider the following statements about Regional Trade Agreements (RTAs): 1. RTAs must eliminate all trade barriers among member countries to be WTO-compliant. 2. India's withdrawal from RCEP was primarily due to concerns about Chinese imports. 3. Rules of Origin in RTAs prevent trade deflection from non-member countries. Which of the statements given above is/are correct?

Which of the following best describes the difference between a Free Trade Agreement (FTA) and a Customs Union? 1. FTA eliminates internal tariffs while maintaining individual external tariffs. 2. Customs Union has common external tariffs in addition to internal free trade. 3. Both require harmonization of economic policies among members.

Consider the following pairs: RTA Type - Example 1. Free Trade Area - ASEAN Free Trade Area 2. Customs Union - MERCOSUR 3. Common Market - European Single Market 4. Economic Union - NAFTA Which of the pairs given above are correctly matched?

India's decision to withdraw from RCEP negotiations was influenced by which of the following factors? 1. Inadequate safeguard mechanisms against import surges 2. Concerns about rules of origin allowing Chinese goods indirect access 3. Insufficient market access commitments from partner countries 4. Opposition from domestic manufacturing lobby

Which constitutional provision primarily governs India's power to enter into Regional Trade Agreements?