Mains Answer Writing
Concept Mapping Mentorship- Covering Syllabus Through Themes
- GS & Optional
Analyze the role of trade liberalization in economic growth. Should India adopt a more open trade policy in response to rising global protectionism? Justify your answer.
Category: Economy (GS -III),
Test Date: 05 Mar 2025
Approach:
- Introduction: Define trade liberalization and its significance in economic growth.
- Role of Trade Liberalization in Economic Growth: Boost to Exports & Competitiveness; FDI Inflows; Consumer Benefits; Employment Generation; Economic Diversification
- Challenges of Trade Liberalization: Threat to Domestic Industries; Trade Deficit Risks; Agricultural Sector Concerns; Dependence on Global Demand
- Should India Adopt a More Open Trade Policy?
- Yes:
- Opportunity to integrate into global supply chains.
- Counter rising global protectionism with diversified trade partnerships.
- Potential for increased FDI and export-led growth.
- No (With Caution):
- Need for strategic tariff protection in sensitive sectors.
- Strengthening domestic manufacturing (Aatmanirbhar Bharat) before full-scale liberalization.
- Balanced approach—bilateral and regional trade agreements instead of blanket liberalization.
- Yes:
- Wrap up your answer
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