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Passage Based Questions: Logical Reasoning - 10 Notes | Study Passage Based Questions for CLAT Preparation - CLAT

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Directions: Read the following passage and answer the questions.
India should have joined RCEP. The deal on offer was a reasonably good one and many of our fears had been allayed. Our farmers had been given protection from imports of agricultural products and milk(say from New Zealand).A quarter of Chinese products had been excluded, and for the rest a long period of tariffs was allowed from 5 to 25 years. The deal offered a unique safeguard from a sudden surge of imports from China to India for 60 of the most sensitive products.
If much smaller countries in Asia-Vietnam, Thailand, the Philippines, Laos, Myanmar-can compete and have joined RCEP, why can’t India? Why does it need tariff protection, normally meant for infant industries? Why are India’s companies still infants after 72 years of Independence? No nation has become prosperous without exports; open economies have consistently outperformed closed ones. The $5 trillion target cannot be achieved without exports. The lesson from this fiasco is that India must act single-mindedly and execute bold reforms to become competitive. We can still join RCEP by March 2020.Consider this period a pause to get our house in order. Here are ten ways to make the nation competitive.
First, get over an inferiority complex and change our old mindset of export pessimism that has limited our share of world exports to 1.7%.Pessimists fear a growing trade deficit. They forget that low cost, high quality imports are necessary to join global supply chains. Competition from imports is a school in which entrepreneurs learn to hone their skills. Ditch the bad idea of import substitution that has made a recent comeback.’ Make in India’ should be ‘Make in India for the World’. To the voices moaning about bleak global trade prospects. Vietnam’s exports have grown 300% from 2013 to 2018 while India’s have remained stagnant. India’s share of world trade is so small-growing it will bring acche din.
Second, lower our tariffs, which are amongst the highest in the world, and have worsened in recent years through nine rounds of tariff increases in the past three years. Smart countries have a sunset clause to every tariff. Cheaper inputs from abroad will not only make our entrepreneurs more competitive but will also improve domestic productivity.
Third, national competitiveness requires collaboration across a dozen ministries and the states. It cannot be left to the ill-equipped commerce ministry. It needs a high-powered initiative under a senior Cabinet minister. Like the US trade representative, the minister should be empowered to monitor and implement reforms across ministries to enhance competitiveness. No one listens to the commerce ministry.

Question for Passage Based Questions: Logical Reasoning - 10
Try yourself:Consider the following statements from the passage and answer accordingly
Assertion(A) : 
$5 trillion target cannot be achieved without exports
Reason(R) : Open economies have consistently outperformed closed ones.
View Solution

Question for Passage Based Questions: Logical Reasoning - 10
Try yourself:Consider the following statements from the passage and answer accordingly.
Assertion : 
Smart Countries have a sunset clause to every tariff
Reason : Cheaper inputs will make entrepreneur more competitive and will improve domestic productivity.
View Solution

Question for Passage Based Questions: Logical Reasoning - 10
Try yourself:The author states that India should have joined RCEP since many of our fears had been allayed. Which of the following are those fears?
View Solution

Question for Passage Based Questions: Logical Reasoning - 10
Try yourself:According to the passage which of the following will help in joining global supply chains.
View Solution

Question for Passage Based Questions: Logical Reasoning - 10
Try yourself:According to the passage how can we achieve national competitiveness
View Solution

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