Economics · Globalisation
Which of the following best explains how economic globalisation affects the agricultural sector in emerging economies like India, particularly in the context of WTO and Free Trade Agreements (FTAs)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1India's agricultural exports have decreased drastically post-globalisation due to trade protectionism imposed by other countries.
- 2The WTO mandates that countries eliminate food security-related programs to ensure a free market.
- 3Economic globalisation exposes domestic agriculture to international price volatility and competition due to reduced tariffs and removal of quantitative restrictions, while also facilitating access to global markets and advanced technologies through FTAs.✓
- 4Economic globalisation guarantees minimum support prices (MSP) and complete subsidies to all farmers under WTO rules.
Correct answer
Economic globalisation exposes domestic agriculture to international price volatility and competition due to reduced tariffs and removal of quantitative restrictions, while also facilitating access to global markets and advanced technologies through FTAs.
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