SYLLABUS TOPIC – GS 3 -changes in industrial policy and their effects on industrial growth.
Q.1 Analyze the challenges and opportunities in the current trade scenario.Also suggest a way forward in a harmonious and consensual manner that is acceptable to the larger global community.
Why this question–
Rising protectionist tendencies , trade negotiation issues and commitments, including the Doha Development Agenda, and their insistence on negotiating mandates are the major challenges that the developing countries are facing.
The commerce ministry has set up a High Level Advisory Group (HLAG) headed by economist Surjit S. Bhalla, member of the Prime Minister’s Economic Advisory Council, to identify and pursue opportunities and address challenges in the current global trade scenario.
The word “Analyze” directs us to is to see the current situation ,reasons for it to be in that situation,dividing into smaller parts to examine it while giving arguments for each case.
Introduction- In this part start with Situation of current trade especially challenges and international bodies to handle these problems. Than mention briefly the recent setting up of high level advisory group and its role to be played.
In body explain the various challenges that are detrimental to global trade like protectionist policies of developed world,Over representation of few countries in international institutions like World bank,WTO etc.,
Intellectual property rights issues at the place where research done by the persons of other country and division of profits thereupon,negotiations processes etc.
Also briefly explain the challenge of trade wars and its effects on other markets especially India.How India can face these challenges and opportunities to be seize by India.
Conclusion- Emphasize the need to resolve these issues,to find long enduring solutions ,consensus base global community and its fruits.