Consider the following statements:
- The value of Indo-Sri Lanka trade has consistently increased in the last decade.
- “Textile and Textile articles” constitute an important item of trade between India and Bangladesh.
- In the last five years, Nepal has been the largest trading partner of India in South Asia.
Which of the statements given above is/are correct?
- 1 and 2 only
- 2 only
- 3 only
- 1,2 and 3
Explanation
Statement 1 is incorrect
- While India and Sri Lanka share strong trade relations, the value of trade has not consistently increased over the last decade.The bilateral trade between India and Sri Lanka has experienced a significant surge, increasing by approximately ninefold from 2000-01 to 2018-19. In the fiscal year 2018-19, the total trade volume between the two nations amounted to US$ 6.2 billion. Within this, India’s exports to Sri Lanka accounted for US$ 4.7 billion, while imports from Sri Lanka were valued at US$ 1.5 billion.
