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Cheat Sheet: International Economic Organisations & India | Indian Economy for UPSC CSE PDF Download

International Monetary Fund (IMF)

  • Founded: 1944 (Bretton Woods)
  • Headquarters: Washington, D.C.
  • India’s position:
    • Quota share ≈ 2.75%, highest-ever SDR allocation (~SDR 13.1 billion)
    • Voting power ≈ 2.63%
    • No borrowing since 1993; contributes to the Poverty Reduction & Growth Trust
    • Key proponent of IMF quota and governance reform via BRICS declarations

World Bank Group

  • Comprises IBRD, IDA, IFC, MIGA, ICSID
  • India: Largest borrower from IDA/IBRD
  • Notable projects:
    • Jal Jeevan Mission pipeline, rural electrification, healthcare facilities
    • ~US$ 1.9 bn disbursed in FY 24–25 for climate action and COVID-related health infrastructure
    • Beneficiary of Climate Investment Funds for sustainable energy initiatives

World Trade Organization (WTO)

  • Formed: 1995 (succeeded GATT); HQ in Geneva
  • India’s participation:
    • Founding member, assertive in negotiations and dispute settlements
    • Nairobi (2015): loss over public stockholding; Peace Clause lapsed but India seeks permanent solution
    • Buenos Aires (2017): stalled e-commerce negotiations
    • MC13 (2024): focus on TRIPS waiver, food security safeguards, e‑commerce framework

BRICS & NDB

  • Members: Brazil, Russia, India, China, South Africa (expanded in 2024–25)
  • India hosted BRICS summits in 2016, 2021
  • New Development Bank (NDB):
    • HQ: Shanghai; India is a founding member
    • Major financing for renewable energy, metros, urban infrastructure
    • 2025: working on expanded lending for Global South projects

Asian Development Bank (ADB)

  • HQ: Manila, Philippines
  • India’s stake: ~6.3% shareholding
  • Key areas:
    • Urban transport, highways, water, energy
    • ~US$ 4 bn in projects underway in FY 24–25

Asian Infrastructure Investment Bank (AIIB)

  • HQ: Beijing
  • India: 2nd largest shareholder (~7.5%)
  • Focus: Infrastructure, energy, urban climate resilience
  • 2025 Highlights:
    • Total funding >US$ 10 bn since 2016
    • New mandates for local currency lending and rural infrastructure

Trade Facilitation & Agreements

  • WTO Trade Facilitation Agreement (2017):
  • India implemented ICEGATE, e-SANCHIT, single-window clearance
  • FTAs / CEPAs:
    • Operational: UAE (CEPA), Australia (ECTA)
    • Under negotiation: EU, UK
    • Opted out from RCEP (2019) due to trade deficits
The document Cheat Sheet: International Economic Organisations & India | Indian Economy for UPSC CSE is a part of the UPSC Course Indian Economy for UPSC CSE.
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FAQs on Cheat Sheet: International Economic Organisations & India - Indian Economy for UPSC CSE

1. What is the role of the International Monetary Fund (IMF) in the global economy?
Ans. The International Monetary Fund (IMF) plays a crucial role in the global economy by providing financial support and stability to member countries facing economic difficulties. It offers policy advice, financial assistance, and technical assistance to help countries maintain exchange rate stability and promote sustainable economic growth. The IMF also conducts economic surveillance to monitor global economic trends and provide recommendations to its member countries.
2. How does the World Bank Group support development in India?
Ans. The World Bank Group supports development in India through various initiatives aimed at reducing poverty and promoting sustainable development. It provides financial and technical assistance for projects in sectors such as infrastructure, education, health, and agriculture. The World Bank also works to enhance governance and strengthen institutions in India, facilitating economic reforms and capacity-building measures that help improve living standards.
3. What are the main objectives of the World Trade Organization (WTO)?
Ans. The main objectives of the World Trade Organization (WTO) are to promote free trade by reducing tariffs and other trade barriers, ensuring that trade flows as smoothly and predictably as possible. It aims to provide a platform for trade negotiations and dispute resolution among member countries. The WTO also seeks to enhance trade-related capacity in developing countries and promote transparency in international trade rules and regulations.
4. What is the significance of BRICS and the New Development Bank (NDB) in international finance?
Ans. BRICS, which includes Brazil, Russia, India, China, and South Africa, is significant in international finance as it represents a coalition of emerging economies that seek to enhance their influence on global economic governance. The New Development Bank (NDB) was established by BRICS to provide funding for infrastructure and sustainable development projects in member countries and other developing nations, thereby addressing the financing gap and reducing dependency on Western-dominated financial institutions.
5. How do multilateral development banks like the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) contribute to regional development?
Ans. Multilateral development banks such as the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) contribute to regional development by providing financial resources, technical expertise, and policy advice for projects that enhance infrastructure, promote economic growth, and reduce poverty in Asia. They facilitate investments in critical sectors such as transport, energy, and urban development, helping countries achieve sustainable development goals and improve overall regional integration.
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