1. Prologue
  2. L6/P1: Crude Oil price & Gold Curbing
  3. L6/P2: Foreign trade policy 2015
  4. L6/P3: Foreign Trade Policy 2015: region wise strategy?


  • On 17th April 2015, I started the session on International trade subpart- Foreign Trade Policy 2015.
  • Total 2:30 hours, split into 3 parts.
  • PowerPoint of the lecture, available at Mrunal.org/Download
  • Medium of instruction- Hindi.
  • English version not possible for the moment, because I’m required to teach at this batch, in Hindi/Gujarati only. Besides, same content is available in English-text articles or English PPTs on the site.

L6/P1: Crude Oil price & Gold Curbing

Youtube Link: Gold monetization Scheme

  1. Recap of the previous lectures on sectors of economy
  2. Some observation from balance of payment database in Economic Survey
  3. Two prime reasons for declined trade deficit during 2014-15.
  4. 3 prime reasons why crude oil prices have declined.
  5. 3 existing measures to curb gold consumption in India.
  6. 3 new measures given in budget-2015 to reduce gold imports in India viz.: Gold monetization scheme, Sovereign Gold bond scheme, Ashok Coins.
  7. India’s top imports and exports according to the new economic survey.
  8. External challenges faced by Indian exporters: quantitative easing and multilateral trade agreements.
  9. Domestic challenges faced by Indian exporters
  10. Legal, taxation and policy related issues hampering the growth of Indian goods and services exports.
  11. Way ahead: Foreign trade policy 2015 (…continued in next part of the video).

Youtube Link: https://youtu.be/eHDh4KugLlI

L6/P2: Foreign trade policy 2015

Trans Pacific Partnership TPP, RCEP

  1. Basics of foreign trade policy 2015: Who, what, When- targets and deadlines?
  2. Five stages of trade agreements: preferential trade agreement (PTA), Free trade agreement, multilateral trade agreements, common market /custom union, economic union.
  3. What is the difference between CECA-CEPA-BTIA vs. FTAs
  4. 3 important multiregional trade agreements for Mains GS2:- Trans-Atlantic, Trans-Pacific and RCEP.
  5. TATIP: transatlantic trade and investment partnership between USA and European Union. Salient features and how does it affect India’s economic interests.
  6. TPP: transpacific partnership between USA, Canada and other nations. Should India join TPP just like Australia, Japan et al are planning?
  7. RCEP: Regional comprehensive economic partnership agreement. List of participant countries, opportunities for India.
  8. Discussion on mock questions for Mains
  9. Examine the opportunities and constrains for India, in joining TPP
  10. Discuss the significance of ASEAN-FTA and RCEP on India’s economic interests in Asia.
  11. TPP and RCEP- the Manifestation of Economic rivalry between US and China, will have profound impact on India’s foreign trade. Elaborate.

Youtube Link: https://youtu.be/Fs98DZtkWHI

L6/P3: Foreign Trade Policy 2015: region wise strategy?

Foreign Trade Policy 2015 Regionwise strategy

  1. US/EU: opportunities and constraints for Indian exporters. Way ahead- exploring ties with Turkey and Visegrad-4 nations
  2. How do EU data securities laws prevent entry of start-up companies from India?
  3. SAARC trade: present scenario and suggest reforms to boost exports?
  4.  Who is India’s largest trading partner among SAARC nations?
  5. Pakistan: issue of most-favoured-nation (MFN)
  6. ASEAN countries: free trade agreement in goods, services and investment. Arguments in favour and against.
  7. What is duty inversion? How does it impact Indian economy?
  8. Importance of ASEAN transport connectivity for Indian exports? India-Myanmar-Thailand trilateral highway.
  9. India-China bilateral trade and projected figures for 2016.
  10. Challenges faced by Indian IT, Pharma and Agriculture exporters to enter in Chinese market?
  11. India-Japan: why infrastructure investment is high but bilateral trade is low?
  12. India-Russia: why strategy relations are good but trade relations have bad? What are the challenges faced by Indian exporters in Russia?
  13. India-CIS countries: opportunities as market and raw material supplier, but constrains in transcontinental connectivity.
  14. India- WANA (West Asia and North African countries)- opportunities for Indian exporters and the need for early conclusion of trade agreements.
  15. India-Africa: opportunities for “project exports”, why do we give technical assistance to least developed countries? Need to finalize trade agreements with SACU, COMESA and ECOWAS.
  16. India-LAC: Latin America and Caribbean countries. Why PTA with MERCOSUR has been a non-starter? Why should India purchase larger farms in Latin America?
  17. Bigger picture: proposed Indian strategy to improve trade relations with 8 regions of world, under foreign trade policy 2015.

Youtube Link: https://youtu.be/rV31m-NSxf4

Visit youtube.com/user/TheMrunalPatel For more lectures on UPSC General Studies.