Comment on the following statements:
(a) An open foreign trade policy and an open external sector have created more problems for domestic economy than it has solved.
(b) Service sector do not have any importance in India’s exports.
(c) The Government of India is not committed towards promoting exports and has declared the gems & jewellery sector as a less important area for export promotion.
(d) India- SAARC trade relations are same as India-ASEAN trade relation

(a) An open foreign trade policy and an open external sector have created more problems for domestic economy than it has solved.

The statement that an open foreign trade policy and an open external sector have created more problems for the domestic economy than it has solved is not entirely accurate. The policy of liberalization and globalization has opened up new opportunities for countries to expand their trade and investment opportunities, leading to higher economic growth, job creation, and improved living standards. However, there can be certain challenges that come along with opening up the economy to foreign trade and investment.

One of the major challenges that a country can face is an increase in imports, which can lead to a trade deficit, resulting in a drain on foreign exchange reserves. This can result in a currency depreciation and inflationary pressures, which can negatively impact the economy. Additionally, an open foreign trade policy can lead to _____ _____ ____ ______ ______ _______ __________ _________ _________.
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