With reference to Free Trade Agreements (FTAs), consider the following statements: 1. A Free Trade Agreement (FTA) aims to eliminate both tariff and non-tariff barriers between the participating countries. 2. FTAs deal exclusively with trade in goods and do not cover services or investments. 3. One of the objectives of an FTA is to provide consumers with access to a wider range of products at competitive prices. 4. As of May 2025, India has signed FTAs with over 50 countries across the world. Which of the statements given above are correct? |ForumIAS

[A] 1 and 3 only

[B] 2 and 4 only

[C] 1, 3 and 4 only

[D] 1, 2 and 3 only

Answer: A

Notes:

Explanation:

Statement 1 is correct: FTAs aim to reduce or eliminate tariff and non-tariff barriers.
Statement 2 is incorrect: FTAs can cover goods, services, investment, and intellectual property.
Statement 3 is correct: FTAs promote consumer benefits by enhancing product variety and lowering prices.
Statement 4 is incorrect: As of May 2025, India has signed FTAs with 16 countries or regional blocs, not over 50.

Source– IE

Subscribe to get the latest posts sent to your email.