Covers various international organizations like BRICS, ADB, IBRD, WTO and IMF and their relations with India as well.

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2. (1) Formed in 1995.
(2) Replaced General Agreements on
Trade and Tariffs (GATT).
(3) India, a founding member of WTO.
(4) China joined in 2001; Russia in 2012.
(5) At present- 164 members;
recently joined by Afghanistan.
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3. (1) 8th round of multilateral negotiations.
(2) begun in 1986 and went on till 1994.
(3) led to creation of WTO in Marrakesh,
Morocco.
(4) Headquarters of WTO in Geneva,
Switzerland.
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4. (1) Non-discrimination
(a) Most favored nation;
(b) National treatment.
(2) Freer trade.
(3) Predictability.
(4) Promoting fair competition.
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5. (1) Agreement on subsidies and
countervailing measures.
(2) General agreement on trade in
services.
(3) TRIPS.
(4) AOA.
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8. PATENTED MEDICINES:-
Issue involves balance of interest between
the pharmaceutical companies in
developed nations that held patents on
medicines and public health needs in
developing countries.
SPECIAL AND DIFFERENTIAL
TREATMENT :-
Issue regarding favorable treatment for
developing and least developed countries.
In 2005 Hong-Kong ministerial, duty free
and quota free access provisions were
provided.
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10. CASES AGAINST INDIA :-
(1) Relating to solar cells
(Complainant : U.S.)
(2) Concerning the importation of certain
agricultural products
(Complainant : U.S.)
(3) Regarding certain taxes and other
measures on imported wines
(Complainant : European
communities)
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11. CASES BY INDIA :-
(1) Countervailing measures on certain
hot- rolled carbon steel flat products
from India.
(Against : U.S.)
(2) safeguard measures on imports of
cotton yarn.
(Against : Turkey)
(3) Seizure of generic drugs in transit.
(Against : European
Union)
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12. (1) Agriculture
(2) Intellectual Property
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14. (1) BRICS is an acronym of Brazil, Russia,
India, China and South Africa.
(2) South Africa officially admitted on 24
December 2010.
(3) Proposed inclusions of Mexico and South
Korea in BRICS.
(4) Vladimir Putin, President of Russia, driving
force behind coalition of developing BRICS
countries.
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16. SANYA DECLARATION :-
“broad vision, shared prosperity”
(1) Emphasized reforms and improvement
of the international monetary and financial
system.
(2) Mutual payments of loans in national
currencies rather than in dollars.
DELHI DECLARATION:-
“global stability, security and prosperity”
(1) Covered global economic and financial
situation.
(2) focused on efforts towards sustainable
development.
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17. (1) Establishment of new development
bank, contingent reserve arrangement,
BRICS business council.
(2) Agreements concluded :-
(a) BRICS multilateral Infrastructure
co-financing Agreement.
(b) BRICS multilateral cooperation
and co-financing agreement.
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18. 6TH BRICS SUMMIT :-
(1) Hosted by Brazil; during 14-16 July
2014.
(2) Official inauguration of New
Development Bank.
7TH BRICS SUMMIT:-
(1) Hosted by Russia in Ufa.
(2) Issues discussed included rising
terrorism, India, Brazil, South Africa as
permanent members of UN Security
Council, climate change, cooperation in
scientific research and innovation
initiatives.
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19. (1) IMF stands for International Monetary
Fund.
(2) Its establishment on 1st march, 1947 is
a great landmark in the history of
international economic relations,
particularly in the monetary field.
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20. (1) Poverty reduction and Growth facility
(PRGF).
(2) Supplemental Reserve Facility (SRF).
(3) Special oil facility.
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22. (1) Expansion of international trade and
thus prosperity.
(2) Large financial assistance; India has
been one of the most frequent
borrowers from IMF.
(3) Aid from world bank and other
international financial agencies.
(4) Availed services of specialists of the IMF
for the purpose of accessing the state of
the Indian economy.
(5) Provision of oil facility; loan facility
accessed by India easily.
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23. (1) Also known as World Bank; established
in1945 under the Bretton Woods Agreement
of 1994.
(2) Headquarters – Washington, D.C., United
States.
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24. (1) India, one of the founder members of
World Bank.
(2) assists India by granting loans,
conducting field surveys, rendering expert
advice, training Indian personnel.
(3) India, largest receiver of the World
bank assistance since August 1949.
(4) Assists India in projects such as
development of ports, aircrafts, coal, iron,
etc.
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25. (1) High interest rate.
(2) Less aid to developing countries.
(3) Faulty lending procedure.
(4) Discriminatory.
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27. (1) Conceived in the early 1960s.
(2) Aims for an Asia and Pacific free from
poverty.
(3) ADB provides:-
(a) Loans
(b) Technical assistance.
(4) Core areas of focus :-
(a) Infrastructure.
(b) Environment.
(c) Regional cooperation
(d) Education.
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28. “ INCREASING EQUALITY, MANAGING
RURAL- URBAN TRANSITIONS, INVESTING IN
SUSTAINABLE INFRASTRUCTURE KEYS TO
UNLOCKING PROSPERITY IN ASIA-PACIFIC.”
- 29th march 2017.
(1) Report published titled “eradicating
poverty and promoting prosperity in a
changing Asia- Pacific”.
(2) 400 million people in the region still
confront poverty.
(3) Measures taken to assure that all
people are benefited through the steps
taken.
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