Q. Consider the following statements:
1.China is India’s second biggest trading partner after the United States. 
2.India had a trade surplus with the US whereas it had a trade deficit with China in the last fiscal year.
3.India’s trade deficit with China has declined in the past years.
Which of the statements given above are correct?

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: A
Notes:

Statement 1 and 2 are correct. China is India’s second biggest trading partner after the United States. India had a trade surplus with the US whereas it had a trade deficit with China in the last fiscal year.

Statement 3 is incorrect. India’s trade deficit with China has increased from $1 billion to $73 billion in the past 21 years.

Source: The Indian Express