Attempt all the problems shown below:

problem 1: What do you meant by the term balance of payments? How is it distinct from balance of trade? Illustrate salient features of India’s balance of payments.

problem 2: Describe in brief the specific initiatives outlined in the year 2005 for promoting foreign trade.

problem 3: Analyze in brief how India’s trade has developed with European Union (EU) throughout the last decade. What are the likely implications of the expansion of EU on the Indian exports?

problem 4: prepare short notes on the given:

a) India’s export of services.
b) India - SAARC trade prospects.

problem 5: In brief comment on the given statements:

a) The world economic scenario has undergone fast changes particularly throughout the last one decade.
b) Foreign investment has the benefit that it doesn’t create any liability for the receiving country.
c) International trade in textiles and clothing has been characterized by a long history of managed trade.
d) Knowledge is rousingly becoming the engine which will fuel many of the most rapidly growing service industries.