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Consider the following statements regarding the 25th Session of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC):
1. India and Russia have set a target to achieve USD 100 billion in trade by 2030.
2. Nearly 90% of India-Russia trade is conducted in freely convertible currencies.
3. The meeting discussed enhancing connectivity through the International North-South Transport Corridor (INSTC).
Which of the statements given above is/are correct?
  • a)
    1 Only
  • b)
    1 and 2 Only
  • c)
    1 and 3 Only
  • d)
    1, 2 and 3
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements regarding the 25th Session of the I...
- Statement 1 is correct. India and Russia have indeed set an ambitious target to achieve USD 100 billion in trade by 2030. This reflects the commitment of both nations to significantly enhance their bilateral trade relations.
- Statement 2 is incorrect. The text specifies that nearly 90% of India-Russia trade is conducted in local or alternative currencies, not freely convertible currencies. This distinction is crucial as it shows a move away from dependence on major international currencies.
- Statement 3 is correct. The meeting emphasized the importance of enhancing connectivity through significant initiatives like the International North-South Transport Corridor (INSTC), which is intended to improve trade links between the two countries.
Thus, the correct answer is Option C: 1 and 3 Only. Statements 1 and 3 are accurate, while Statement 2 does not accurately reflect the current state of currency use in India-Russia trade.
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Consider the following statements regarding the 25th Session of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC):1. India and Russia have set a target to achieve USD 100 billion in trade by 2030.2. Nearly 90% of India-Russia trade is conducted in freely convertible currencies.3. The meeting discussed enhancing connectivity through the International North-South Transport Corridor (INSTC).Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements regarding the 25th Session of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC):1. India and Russia have set a target to achieve USD 100 billion in trade by 2030.2. Nearly 90% of India-Russia trade is conducted in freely convertible currencies.3. The meeting discussed enhancing connectivity through the International North-South Transport Corridor (INSTC).Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the 25th Session of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC):1. India and Russia have set a target to achieve USD 100 billion in trade by 2030.2. Nearly 90% of India-Russia trade is conducted in freely convertible currencies.3. The meeting discussed enhancing connectivity through the International North-South Transport Corridor (INSTC).Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the 25th Session of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC):1. India and Russia have set a target to achieve USD 100 billion in trade by 2030.2. Nearly 90% of India-Russia trade is conducted in freely convertible currencies.3. The meeting discussed enhancing connectivity through the International North-South Transport Corridor (INSTC).Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.
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