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International Agencies and Trade

General Knowledge for Competitive Exams

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15 Most Important facts about IMF

May 15, 2018
International Monetary Fund (IMF) and IBRD are known as the Bretton Woods twins due to their similar date and place of establishment.  In this article we have compiled the most important facts about IMF. These all facts are important for the competitive exams to be held in India.

List of President of the World Bank Group

May 2, 2018
The President of the World Bank Group is the head of World Bank Group. The President is responsible for heading the meetings of the Boards of Directors and for overall management of the World Bank Group. The first President of the World Bank Group was Mr. Eugene Meyer from the USA. He assumed the office in 1946.

List of Managing Directors of International Monetary Fund

Apr 24, 2018
The International Monetary Fund (IMF) is led by a Managing Director, who is head of the staff and serves as Chairman of the Executive Board. Since its inception the Managing Director of IMF has been European and the president of the World Bank has been from the United States. Managing Director of the IMF is selected by the Executive Board consists of 24 member. Till date the IMF has had 11 Managing Directors since it began operations.

What are the names of Indian Credit Rating Agencies and their grades?

Mar 15, 2018
Credit rating agencies evaluate debentures, fixed deposits and other short term credit documents of various companies after studying their financial status, industrial risks and market conditions. There are 4 credit rating agencies working in India namely, CRISIL, ICRA, CARE and DCR India.

List of Top Five Debt Ridden Country of the World

Sep 16, 2016
A country found itself in debt trap when the expenditure of a country exceeds the revenue of that country year by year. After factual analysis we found that Japan is the most debt ridden country in the world followed by the Greece and Lebanon. Japan has debt of 229% of its GDP.

South Asian Free Trade Area (SAFTA) & ASEAN

Dec 1, 2015
South Asian Preferential Trade Agreement (SAPTA- 1993) was envisaged primarily as the first step towards the transition to a South Asian Free Trade Area (SAFTA) leading subsequently towards a Customs Union, Common Market and Economic Union. In 1995, the Sixteenth session of the Council of Ministers (New Delhi, 18-19 December 1995) agreed on the need to strive for the realization of SAFTA. At the12th SAARC Summit (Jan. 4-6, 2004) at Islamabad, the Capital City of Pakistan, SAPTA became SAFTA. ASEAN (1967) is a union of South-East Asian Nations.

BRICS Nations

Dec 1, 2015
BRICS (Brazil, Russia, India and China, South Africa) was initially formulated in 2001 by economist Jim O'Neill, of Goldman Sachs, in a report on growth prospects for the economies of Brazil, Russia, India and China – which together represented a significant share of the world's production and population. In 2006, the four countries initiated a regular informal diplomatic coordination, with annual meetings of Foreign Ministers at the margins of the General Debate of the UN General Assembly (UNGA).

The European Union (EU)

Dec 1, 2015
The European Union (EU) is a unique economic and political partnership between 28 European countries that together cover much of the continent. It was created in the aftermath of the Second World War. The first steps were to foster economic cooperation: the idea being that countries that trade with one another become economically interdependent and so more likely to avoid conflict. It is based on the rule of law: everything that it does is founded on treaties, voluntarily and democratically agreed by all members.

IBSA (India-Brazil-South Africa Dialogue Forum)

Dec 1, 2015
IBSA was Established in June 2003,as a coordinating mechanism amongst three emerging countries(India, Brazil, South Africa), three multi ethnic and multicultural democracies, which are determined to: contribute to the construction of a new international architecture, bring their voice together on global issues, deepen their ties in various areas. Trade between IBSA partners has increased significantly since the Forum's inception and indications are that the target of US$ 25 billion by 2015 will be readily achieved.

World Trade Organisation (WTO)

Nov 30, 2015
The World Trade Organisation (WTO) is an international organisation which sets the rules for global trade. This organisation was set up in 1995 as the successor to the General Agreement on Trade and Tariffs (GATT) created after the Second World War. It has 153 members. All decisions are taken unanimously but the major economic powers such as the US, EU and Japan has managed to use the WTO to frame rules of trade to advance their own interests.

Foreign Direct Investment in Retail Sector in India

Nov 30, 2015
The Foreign Direct Investment (FDI) means “cross border investment made by a resident in one economy OR in an enterprise in another economy, with the aim of earning profits in the targeted country.   Mostly the investment is into production by either buying a company in the targeted country or by expanding operations of an existing business in that country”.   These investments can be made for many reasons, i.e. to take advantage of cheaper wage rate, special investment facilities offered by the country or the conducive atmosphere in the country.

Export Promotion Policies in India

Nov 30, 2015
The government of India has liberalized the schemes for the export oriented units and export processing zones, agriculture, horticulture, poultry, fisheries and dairying have been included in the export oriented units.  Export promotion capital goods schemes (EPCGS) has been started to permit the exporters to import capital goods on concessional import duties. Under the EPCGS scheme, such importers of capital goods have to export goods of 4 times values of import within next five years. Establishment of the EXIM bank and SEZs promoted the export from country.

Composition of Indian Foreign Trade

Nov 30, 2015
In 1950 the Indian share in the world trade was 1.78% which came down to 0.6% in 1995. Currently it is 2.07% ($779 bn.) of the total world trade. The percentage of non traditional goods in total exports has increased the exports of chemical and engineering goods have shown a high growth rate. The manufactured goods constitute the bulk of export over 64% in recent years, followed by crude and petroleum products (including coal) with a 20% share and agriculture & allied with just 13% share.

Trade Related Investment Measures (TRIMS)

Nov 28, 2015
Under the Agreement on Trade-Related Investment Measures of the World Trade Organization (WTO), commonly known as the TRIMs Agreement, WTO members have agreed not to apply certain investment measures related to trade in goods that restrict or distort trade. The TRIMs Agreement prohibits certain measures that violate the national treatment and quantitative restrictions requirements of the General Agreement on Tariffs and Trade (GATT).

Exchange Rate Management in India

Nov 28, 2015
Foreign exchange market is the market in which foreign currencies are bought and sold. Being a member of IMF, India followed the par value system of pegged exchange rate system. But when the Breton Woods system collapsed in 1971, the rupee was pegged to pound sterling for four years after which it was initially linked to the basket of 14 currencies but later reduced to 5 currencies of India’s major trading partners. Currently India has adopted the managed exchange rate system.

Foreign Trade Policy 2015-20

Nov 28, 2015
India aims to increase India’s export of merchandise and services from US $ 465 bn. in 2013-14 to approximately US$ 900 bn. by the 2019-20 and to raise India’s share in the world export from 2% to 3.5%. Commerce and Industry minister Nirmala Sita Raman unveiled foreign trade policy (FTP) 2015 -20, which seek to provide higher incentive to agriculture industry. FTP also seeks to establish an institutional framework to work with state governments to boost India’s exports.

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