General Awareness Test - 3 - Bank Exams MCQ

The correct answer is 112.

• Budget is a detail of the income and expenditure of the country. According to Article 112 of the Constitution, "the Union Government lays a statement of its estimated receipts and expenditure for that year, from April 1 to March 31, before both the Houses of Parliament".
• The budget is also called the Annual Financial Statement.
• The Annual Financial Statement distinguishes the expenditure on revenue account from the expenditure on other accounts, as mandated by the Constitution of India.
• The Union Budget maintains the account of the government's finances for the financial year that runs from April 1 to March 31.
• The Union Budget is classified into Revenue Budget and Capital Budget.
• The Revenue Budget consists of the revenue receipts of the government (tax revenues and other revenues) and the expenditure met from these revenues.
• The Capital Budget consists of capital receipts and payments. It also incorporates transactions in the public account.

• Oxford University has agreed to return a stolen 500-year-old bronze statue to India, which is of Saint Tirumankai Alvar.

• This decision was supported by the Council of the University of Oxford on 11 March 2024 after a claim was made by the Indian High Commission.
• The statue was originally acquired by the Ashmolean Museum from a Sotheby’s auction in 1967.
• Saint Tirumankai Alvar is a revered figure in Tamil Nadu, and the statue is believed to have been stolen from a temple there.
• The return of the statue involves legal approval from the Charity Commission as per the university's protocols.
• This action by Oxford University is part of a broader movement to repatriate culturally significant artifacts to their countries of origin.

The correct answer is Guyana.

In News

• EXIM Bank has entered into a Line of Credit agreement with Guyana worth $2.5 million.

Key Points

• The Line of Credit aims to support developmental projects and initiatives in Guyana.
• This agreement will facilitate funding for various projects in sectors such as infrastructure, agriculture, healthcare, and other developmental areas.
• The agreement is expected to strengthen economic ties and bilateral relations between India and Guyana.
• It underscores India's commitment to supporting Guyana's development efforts through financial cooperation.
• While the deal was dated February 29, 2024, the agreement under the Line of Credit is effective from June 24, 2024.
• Under the Line of Credit, the last date for disbursements will be 48 months after the completion of the project

The correct answer is Hong Kong.
In News
Mercer’s Cost of Living City rankings show that Hong Kong, Singapore, and Zurich are the world’s most expensive places for expats in 2024.
Key Points
Mercer evaluated 226 cities globally, basing its findings on the cost of over 200 items ranging from housing and transport to food and entertainment.
Most expensive cities in the world:

1. Hong Kong
2. Singapore
3. Zurich
4. Geneva
5. Basel
6. Bern
7. New York
8. London
9. Nassau
10. Los Angeles

Least expensive cities in the world

1. Abuja, Nigeria (226)
2. Lagos, Nigeria (225)
3. Islamabad, Pakistan (224)
4. Bishkek, Kyrgyzstan (223)
5. Karachi, Pak (222)
6. Blantyre, Malawi (221)
7. Dushanbe, Tajikistan (220)
8. Durban, SA (219)
9. Windhoek, Namibia (218)
10. Havana, Cuba (217)

The correct answer is Anopheles stephensi

In News

• Genetically modified (GMO) mosquitoes were released in Djibouti on May 23, 2024, as part of a pilot project to combat the spread of malaria.

Key Points

• This marks the first time GMO mosquitoes have been released in East Africa and the second time on the African continent.
• The release is part of the "Djibouti Friendly Mosquito Programme" initiated two years ago to control the invasive species of mosquito, Anopheles stephensi, which was first detected in Djibouti in 2012. The species is notorious for its ability to adapt to urban environments and its resistance to chemical insecticides. The invasive mosquito has caused a significant surge in malaria cases in Djibouti, from 27 cases in 2012 to 73,000 by 2020.
• The GMO mosquitoes, developed by Oxitec Ltd, are non-biting, disease-free males that carry a gene that ensures their female offspring do not reach maturity. This approach targets the female mosquitoes, which are primarily responsible for malaria transmission. The goal is to significantly decrease the spread of malaria by reducing the female mosquito population.
• The release of GMO mosquitoes in Djibouti is a significant step in the fight against malaria, which claims over 600,000 lives annually worldwide, with nine in ten deaths occurring in sub-Saharan Africa.

The correct answer is BNP Paribas and Mistral AI

In News

• BNP Paribas has signed a multi-year agreement with Mistral AI, a start-up valued at $6 billion, to implement AI commercial models across all business lines.

Key Points

• The agreement provides BNP Paribas access to current and future Mistral AI models, focusing on large language models (LLMs) for various business use cases.
• Olivier Osty, head of Global Markets at BNP Paribas, highlighted the partnership's potential to enhance client offerings in sales, trading, and research, aligning with the bank's digital strategy.
• Sophie Heller, COO of commercial banking, emphasized that the deal supports the development of hyper-personalized digital services, including 24/7 virtual assistants for customer inquiries.
• The bank began engaging with Mistral AI in September 2023, initially piloting AI models within its Global Markets division, leading to strong results and an expanded collaboration.
• BNP Paribas is now extensively piloting Mistral AI models across several divisions, aiming to enhance security while leveraging the latest technology.

The correct answer is Ministry of Finance.
Key Points

• The Ministry of Finance released the final 'Report of India’s G20 Task Force on Digital Public Infrastructure'.
• The Task Force was co-chaired by Shri Amitabh Kant and Shri Nandan Nilekani.
• The report aims to strengthen the foundations of Digital Public Infrastructure (DPI) worldwide.
• The complete report is available on the Department of Economic Affairs website.

Important Points

• The report was released during the tenure of India's G20 Presidency.
• It provides a strategic blueprint for the advancement and adoption of DPI globally.

Additional Information

• Ministry of Electronics and Information Technology: Responsible for digital technology but did not release this report.
• Ministry of External Affairs: Handles international relations, not directly involved in this DPI report.
• Ministry of Home Affairs: Oversees internal security, not involved in the DPI task force.

The correct answer is the Italy.
Key Points

• The first virtual summit of India, Israel, the United Arab Emirates (UAE), and the United States of America (USA) dubbed “I2U2″— “First I2U2 Leaders’ Virtual Summit 2022”—was held on July 14, 2022.
• "I2U2" is being projected as the Quad for West Asia. I2U2 is aimed to encourage joint investments in six mutually identified areas such as water, energy, transportation, space, health, and food security.
• Prime Minister Shri Narendra Modi virtually participated in the I2U2 Summit, along with Prime Minister of Israel Yair Lapid, President of the UAE Sheikh Mohamed bin Zayed Al Nahyan and President of the USA Joseph R. Biden.

Additional Information

• I2U2 stands for India, Israel, the UAE, and the US, and was also referred to as the ‘West Asian Quad’ by Ahmed Albanna, Ambassador of the UAE to India.
• Back in October 2021, a meeting of the foreign ministers of the four countries had taken place when External Affairs Minister S Jaishankar was visiting Israel.
• At that time, the grouping was called the ‘International Forum for Economic Cooperation.
• Its stated aim is to discuss “common areas of mutual interest, to strengthen the economic partnership in trade and investment in our respective regions and beyond”.

The correct answer is ​Kush Maini

In News

• Kush Maini became the first Indian to win a Formula 2 race at the Hungarian Grand Prix, inheriting the victory after initial winner Richard Verschoor was disqualified.

Key Points

• Verschoor's disqualification was due to a technical infringement; the plank on his car was found to be below the minimum thickness required by the 2024 FIA Formula 2 Technical Regulations.
• The FIA Technical Delegate's report confirmed that Verschoor's car did not meet the specifications, leading to his removal from the results.
• As a result, Maini, driving for Invicta Racing, was awarded the top position, with Campos Racing’s Isack Hadjar promoted to the final podium spot and Juan Manuel Correa taking the eighth position.
• Before the disqualification, Verschoor had claimed victory with a strong performance, initially holding off Maini and finishing ahead of ART Grand Prix’s Victor Martins.
• Maini had started from the front row and finished second in the race before being declared the winner following Verschoor's disqualification.
• The race saw several changes in position, including Andrea Kimi Antonelli briefly leading before Verschoor took over and Maini closing in on the leaders by the end of the race.

The correct answer is Defence Secretary Giridhar Aramane

In News

• India and Indonesia are set to hold the seventh Joint Defence Cooperation Committee (JDCC) meeting in New Delhi.

Key Points

• Co-chaired by Defence Secretary Giridhar Aramane and Indonesia Air Marshal (Retd.) Donny Ermawan Taufanto, the meeting will focus on exchanging views on regional and global issues of shared interest.
• The visit of the Indonesian Secretary-General to India includes discussions with Indian Defence Industries in New Delhi and Pune.
• The friendship between India and Indonesia, elevated to the level of Comprehensive Strategic Partnership in 2018, has broadened bilateral relations, particularly in defence industry, science, and technology collaboration.
• Defence engagements between the two countries encompass various areas such as military-to-military exchanges, high-level visits, capacity building, training programmes, UN peacekeeping cooperation, ship visits, and bilateral exercises.
• The defence cooperation agreement signed in 2001 established the JDCC to explore potential areas of cooperation, coordinate approved activities, and monitor progress.
• India's 'Look East Policy' adopted in 1991 has accelerated the development of bilateral relations in political, security, defence, commercial, and cultural domains.

The correct answer is (i), (iii) and (iv).

(i) The observation of the International Day of Yoga started from the year 2016.

• On June 21, 2015, the world celebrated the first International Day of Yoga. Hence statement (i) is incorrect.
• In India, the Ministry of AYUSH made the necessary arrangements. 35,985 people, including Prime Minister Modi and dignitaries from 84 countries, performed 21 asanas (yoga postures) for 35 minutes at Rajpath in New Delhi, making it the largest yoga class ever held and with the most countries participating 84.

(ii) The idea to have an UN-mandated day for celebrating Yoga was put forward by Indian Prime Minister Narendra Modi.

• India proposed the draught resolution establishing the International Day of Yoga, which was approved by a record 175 member states. Prime Minister Narendra Modi first mentioned the proposal in his speech at the start of the 69th session of the General Assembly. Hence statement (ii) is correct.

(iii) This Day was incepted in UN General Assembly in 2015.

• Recognizing its universal appeal, the United Nations declared 21 June as the International Day of Yoga by resolution 69/131 on 11 December 2014. Hence statement (iii) is incorrect.
• The International Day of Yoga aims to raise global awareness of the numerous benefits of yoga practice.

(iv) June 21 was selected as Yoga Day because it is the longest day of the year in the Southern Hemisphere.

• June 21 was selected as Yoga Day because it is the longest day of the year in the Northern Hemisphere. Hence statement (iv) is incorrect.

The SDR consists of the five currencies:

• U.S. Dollar
• Euro
• Renminbi
• Japanese Yen
• British Pound

The correct answer is Uttarakhand

In News

• Uttarakhand has become the first Indian state to assign a monetary value to its natural resources—air, water, forest, and soil—through a Gross Environment Product (GEP) index.

Key Points

• The GEP index reflects data from 2020 to 2022, showing a 0.9% increase in the value of these resources.
• Chief Minister Pushkar Singh Dhami announced this initiative, calling it historic and emphasizing the importance of valuing the state's abundant natural resources, including forests, glaciers, and freshwater.
• The GEP initiative is intended to provide a measure similar to GDP but focused on environmental resources.
• The announcement aligns with Uttarakhand's efforts to highlight and improve its environmental sustainability.
• This move is seen as a step toward integrating environmental health into economic planning and development strategies.

The correct answe is Sanjay Shukla

In News

• Sanjay Shukla has taken on the role of managing director (MD) of the National Housing Bank (NHB) as of July 30, 2024.

Key Points

• Shukla is a seasoned chartered accountant with over three decades of experience in housing and retail asset finance.
• He started his career in 1991 as an officer at LIC Housing Finance Limited.
• Prior to joining NHB, Shukla was the founding MD and CEO of Centrum Housing Finance Limited (CHFL) from October 2016, where he led significant growth and stability.
• Shukla has also served as MD and CEO of Cent Bank Home Finance Ltd (CBHFL), improving asset quality and enhancing assets under management.
• His career includes roles such as business head of consumer assets at ING Vysya Bank, launching Tata Capital’s retail housing finance business, and serving as vice president and area director at Citibank.

The correct answer is ​Mohsin Naqvi

In News

• Mohsin Naqvi is reportedly set to become the next President of the Asian Cricket Council (ACC) later in 2024.

Key Points

• Jay Shah, the current ACC President and BCCI Secretary, will step down after serving for three years, including a recent one-year extension.
• The transition follows the ACC's rotational policy, which rotates the presidency among its members.
• Naqvi, who is the Chairperson of the Pakistan Cricket Board (PCB), is expected to take over the role for a two-year term.
• The new ACC President will oversee major tournaments, including the Asia Cup 2025 and the ICC Champions Trophy 2025, both of which are significant events in the cricketing calendar.
• This change in leadership will impact upcoming tournaments, with the Asia Cup 2025 scheduled to be played in India and the 2027 edition in Bangladesh.
• There has been ongoing discussion about India and Pakistan's participation in these events due to geopolitical tensions, but the role of the ACC President will be crucial in facilitating these tournaments.

The correct answer is 7.

In News

• The Government of India announced the creation of five new districts in Ladakh, bringing the total number of districts to 7.

Key Points

• The new districts are Zanskar, Drass, Sham, Nubra, and Changthang.
• Previously, Ladakh had only two districts: Leh and Kargil.
• Ladakh became a Union Territory in 2019 after the bifurcation of Jammu and Kashmir.
• The creation of new districts aims to enhance administrative efficiency and governance in the region.

Additional Information

• Leh is one of the largest districts in Ladakh and a major tourist destination.
• Kargil is known for its historical significance and strategic location.
• The new districts will focus on developing infrastructure and providing better public services.
• Ladakh has seen an increase in government initiatives to improve local administration.

The correct answer is Indira Gandhi International Airport.

In News

• Indira Gandhi International Airport (IGIA) became the first airport in India to achieve net zero carbon emission status.

Key Points

• IGIA achieved this status well ahead of its target year of 2030, primarily through renewable energy initiatives.
• The airport has implemented several green infrastructure projects and adopted electric vehicles.
• IGIA's operator, DIAL, is led by the GMR Group.
• The certification is part of the Airport Council International's (ACI) Airport Carbon Accreditation program.

Additional Information

• ACI’s Accreditation Program: A program aimed at encouraging airports worldwide to reduce carbon emissions.
• Scope 1 and 2 Emissions: Emissions directly generated by the airport (Scope 1) and from the energy it consumes (Scope 2).
• Net Zero Emissions: Achieved by reducing emissions to near-zero and offsetting residual emissions through removal initiatives.
• GMR Group: The operator of IGIA, focused on green airport initiatives.

The correct answer is Flexible exchange rate.
Key Points

• Flexible exchange rate system is a method of regulating exchange rates based on the market mechanism that is demand and supply.
• In the flexible exchange rate system, a domestic currency is left free to float against a number of foreign currencies in the foreign exchange market and determine its own value.

Additional Information

• Fixed exchange rate system: In this, the exchange rate of the currency is fixed in front of a basket of import world currencies like the US Dollar, Japanese Yen, Euro etc.
• Managed Exchange Rate system: It is the hybrid or mixture of fixed and flexible exchange rate system.
• Dual Exchange Rate System: It is evolved by India. There is two exchange rate for Rupee one is official and another is market rate.

The correct answer is 15%.

In News

• The Ministry of Textiles is implementing the Raw Material Supply Scheme to provide a 15% price subsidy on Cotton Hank Yarn, Domestic Silk, and Woollen yarn.

Key Points

• Under this scheme, transport subsidies are also provided for yarn delivered to the beneficiary's doorstep.
• The scheme is a part of the government's efforts to support handloom workers across India.
• The scheme includes a price subsidy on blended yarns of natural fibers like cotton and silk.
• It focuses on improving yarn accessibility for handloom weavers and organizations across India.

Additional Information

• National Handloom Development Programme: A flagship scheme under the Ministry of Textiles to provide financial assistance for upgrading looms, accessories, and infrastructure.
• Weavers’ MUDRA Loan Scheme: Provides margin money assistance for weavers with interest subvention and credit guarantee fees for three years.
• Transport Subsidy: Ensures that handloom weavers receive yarn at their doorstep without additional transport costs.
• Yarn Subsidy: Includes various natural and blended fibers to support traditional weaving techniques and enhance product quality.

The correct answer is 89.49 meters.

In News

• Neeraj Chopra finished second in the Lausanne Diamond League with a throw of 89.49 meters.

Key Points

• Neeraj's throw of 89.49 meters was his season's best.
• He secured second place in the event after recovering in the final rounds.
• Anderson Peters of Grenada won the event with a throw of 90.61 meters.
• Neeraj’s previous performances have made him one of the top contenders in javelin throw globally.

Additional Information

• Neeraj Chopra
  • Neeraj Chopra is an Indian track and field athlete who specializes in javelin throw.
  • He won a gold medal at the Tokyo 2020 Olympics and a silver medal at the Paris .
• Lausanne Diamond League
  • An annual track and field event held in Lausanne, Switzerland.
  • The event is part of the Diamond League series, a top-tier global athletics competition.

The correct answer is Ministry of Consumer Affairs, Food and Public Distribution.

In News

• In August 2024, the Ministry of Consumer Affairs, Food, and Public Distribution launched a pilot to transform 60 Fair Price Shops (FPS) into Jan Poshan Kendras.

Key Points

• The initiative will ensure quality control and help curb malnutrition.
• FPS-Sahay, a financing app, was also launched as part of this pilot.
• The Jan Poshan Kendra model provides a solution to raise the income levels of FPS dealers.
• This transformation is part of the Central Government’s 100-day programme.

Additional Information

• Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY)
  • PMGKAY is a food security scheme that has been extended for five more years.
  • The scheme benefits millions of families with subsidized food grains.

The correct answer is Asia.

• The yellow ring in the Olympics represents the Asia continent.

Key Points

• Olympics:
  • Athens was the venue for the first Olympics which was held in 1896.
    • Since then Games are held every four years.
  • The Olympic flag was created in 1913 at the suggestion of Baron Pierre de Coubertin.
  • In the Amsterdam Games in 1928, an Olympic flame was ceremonially lighted and burned in a giant torch at the entrance of the stadium.
  • The Olympic motto is “Citius Altius Fortius” (faster, higher, stronger).
  • The symbol of the Olympics was designed in 1913 by Pierre de Coubertin.
    • He was the founder of the International Olympic Committee.
  • The five rings represent the union of the five inhabited continents – Africa, the Americas, Asia, Europe and Oceania.
    • The blue ring represents the European continent.
    • The yellow ring represents Asia.
    • The red ring represents America.
    • The green ring represents Australia.
    • The black ring represents Africa.

In News
The Department of Post has released a beta version of the National Addressing Grid, “DIGIPIN (Digital Postal Index Number),” to gather public feedback until September 22, 2024.
Key Points

• DIGIPIN is developed by the postal department and IIT Hyderabad, and it will divide the entire country into 4mX4m units.
• Each unit will be assigned a unique 10-digit alphanumeric code derived from the latitudinal and longitudinal coordinates of the unit.
• This system will serve as an offline addressing reference for specific locations within the DIGIPIN system.
• The first character of the DIGIPIN identifies one of the 16 regions into which the country is divided.

Additional Information

• DIGIPIN (Digital Postal Index Number)
  • A National Addressing Grid system being developed to improve postal and addressing systems in India.
  • It divides the country into small 4mX4m units, each assigned a unique 10-digit alphanumeric code.
  • This system is designed for offline use, providing a precise and logical way to reference addresses.
• Exclusive Economic Zone (EEZ)
  • An area of coastal water and seabed within a

Key Points

• In the Constitution of India, the annual financial statement consists of three kinds of funds for the Central government:-
  • Consolidated Fund of India (Article 266)
  • Public Account of India (Article 266)
  • Contingency Fund of India (Article 267)
• Consolidated Fund of India:-
  • It is a fund to which all receipts are credited, and all payments are debited.
  • No money out of this fund can be appropriated (issued or drawn) except in accordance with parliamentary law.
• Public Account of India:-
  • All other public money (other than those which are credited to the Consolidated Fund of India) received by or on behalf of the Government of India shall be credited to the Public Account of India.
  • This account is operated by executive action, that is, the payments from this account can be made without parliamentary appropriation.
  • Such payments are mostly in the nature of banking transactions.
• Contingency Fund of India:-
  • This fund is placed at the disposal of the president, and he can make advances out of it to meet unforeseen expenditure, pending its authorisation by the Parliament.
  • The fund is held by the finance secretary on behalf of the President. Like the public account of India, it is also operated by executive action.

Important Points

• The budget is also referred to as the Annual Financial Statement in Article 112 of the Constitution of India.
• The Union Budget is the annual financial statement that contains the government's revenue and expenditure for a fiscal year.
• Article 112 of the Constitution requires the government to present to Parliament a statement of estimated receipts and expenditure in respect of every financial year, from April 1 to March 31.
• It is divided into three parts, a Consolidated Fund, Contingency Fund, and Public Account.

The correct answer is ₹4.00 lakh.
In News
RBI imposed a monetary penalty on Hindustan Co-operative Bank Limited for KYC violations.
Key Points

• 1. Hindustan Co-operative Bank violated the RBI’s directions related to KYC.
• 2. The penalty was imposed as part of compliance measures by RBI.
• 3. RBI penalized various cooperative banks in July 2024 for non-compliance.

Additional Information

• RBI Penalties
  • Imposed for violations of statutory guidelines.
  • Aims to enforce regulatory compliance in cooperative banks.

In News
OpenAI has unveiled a new AI tool called “CriticGPT,” which is based on GPT-4.
Key Points

• CriticGPT is specifically designed to find errors produced by ChatGPT, helping human trainers and coders during reinforcement learning from human feedback.
• This tool improves code review outcomes by more than 60% compared to previous models.

In News
The United Nations Educational, Scientific and Cultural Organisation (UNESCO) has approved the designation of 11 new biosphere reserves across 11 countries, including Belgium and Gambia for the first time.
Key Points

• The new biosphere reserves are located in countries such as Colombia, Italy, Mongolia, Philippines, South Korea, and Spain.
• The World Network of Biosphere Reserves now includes 759 sites in 136 countries.
• The decision was made during the 36th Session of the International Co-ordinating Council of UNESCO's Man and the Biosphere Programme, held in Agadir, Morocco.

Additional Information

• UNESCO Headquarters: Paris, France.
• Director-General of UNESCO: Audrey Azoulay.
• Founded: 1945.
• Number of UNESCO Member States: 194 countries.
• Man and the Biosphere Programme: A UNESCO initiative aimed at improving the relationship between people and their environments by promoting the sustainable use of natural resources.

Key Points

• Hargobinder Singh Dhaliwal has been appointed as the new DGP of Andaman and Nicobar Islands.
• He is a 1997-batch IPS officer.
• Dhaliwal previously served as the special commissioner of police in New Delhi, overseeing traffic zone-II.
• He has solved high-profile cases, including the Dhaula Kuan gangrape and journalist Saumya Vishwanathan’s murder.

Important Points

• Dhaliwal is an alumnus of Panjab University.
• He has played a crucial role in several high-profile investigations.
• The incumbent DGP Devesh Chandra Srivastva has been transferred to New Delhi.
• Dhaliwal’s appointment was made by the Ministry of Home Affairs (MHA).

Additional Information

• Devesh Chandra Srivastva: The incumbent DGP of Andaman and Nicobar Islands who has been transferred to New Delhi.
• Career of Dhaliwal: Dhaliwal has a distinguished career, solving high-profile cases and serving in various capacities.
• Dhaliwal’s Previous Role: Before his new appointment, Dhaliwal was the special commissioner of police in New Delhi.
• Recognition: Dhaliwal’s investigative skills have been highlighted in several major cases.

In News
6 traditional products and crafts of Assam, including Bihu Dhol, Jaapi and Sarthebari bell metal craft, have been accorded GI tags.
Key Points

• Bihu Dhol, Jaapi, Assam Asharikandi Terracotta Craft, Assam Pani Mateka Craft, Sarthebari Metal Craft, and Assam Mising Handloom Products are the products that received the GI tags.
• These crafts are deeply rooted in Assam's heritage and culture.
• The GI tags were granted with support from organizations like NABARD and RO Guwahati.
• Padma Shri Dr. Rajani Kant, a GI Expert, facilitated the process.
• These crafts directly support nearly one lakh people in Assam.
• The certifications for the GI tags were confirmed in 2024, affirming the state's rich cultural legacy.

In News
India maintained its position as the world’s 8th largest exporter of agricultural products in 2023, despite a decline in exports to $51 billion from $55 billion in 2022, according to the World Trade Organisation’s (WTO) World Trade Statistics 2023.
Key Points

• The fall in India’s agriculture exports is attributed to geopolitical factors such as the Red Sea crisis and the Russia-Ukraine war, and bans on exports of certain commodities like wheat, non-basmati rice, and sugar.
• Among the top 10 exporters of agricultural products, Brazil, the European Union (EU), and Thailand were the only ones to increase their exports in 2023.
• The EU maintained its top position in 2023 with agricultural exports valued at $836 billion, while the United States continued in the 2nd spot despite a drop in exports.
• Collectively, the top 10 exporters represented a 71.9% share in world agricultural exports in 2023, reflecting the dominance of a few key players in global trade.

Additional Information

• India's position as the 8th largest exporter reflects its significant role in the global agricultural market, despite challenges posed by external factors and internal policy decisions.
• The bans on wheat, non-basmati rice, and sugar exports were part of India's efforts to control domestic prices and ensure food security.
• The European Union, United States, and Brazil continue to dominate global agricultural exports, with substantial contributions to the world’s food supply chain.
• Understanding global agricultural trade patterns is crucial for countries to navigate the complexities of international markets and maintain economic stability.