The correct answer is (c) 1.50%.
The new Foreign Trade Policy (FTP) was announced in 2004. The objective of the FTP is to increase India’s share in the world trade to 1.50% by 2009. The FTP also aims to increase exports of goods and services, promote foreign direct investment (FDI), and improve the competitiveness of Indian industries.
The FTP has been successful in achieving some of its objectives. India’s share in the world trade has increased from 0.8% in 2004 to 1.2% in 2009. Exports of goods and services have also increased significantly during this period. However, the FTP has not been able to achieve all of its objectives. FDI inflows have been lower than expected, and the competitiveness of Indian industries has not improved as much as desired.
The government is currently working on a new FTP that will be implemented from 2010 to 2014. The new FTP is expected to address some of the shortcomings of the current FTP. It is expected to focus on increasing FDI inflows, improving the competitiveness of Indian industries, and promoting exports.
The following are the options for the question:
(a) 1.00%: This option is incorrect because India’s share in the world trade was 0.8% in 2004.
(b) 1.25%: This option is incorrect because India’s share in the world trade was 1.2% in 2009.
(c) 1.50%: This option is correct because the objective of the new Foreign Trade Policy is to increase India’s share in the world trade to 1.50% by 2009.
(d) 2.00%: This option is incorrect because India’s share in the world trade was 1.2% in 2009.