NIFT UG 2013 Question Paper with solutions

Directions (Qs. 122–125): A business situation is given below followed by four possible conclusions which can be drawn from the facts stated in the situation. You have to examine each conclusion separately in the context of the situation and decide upon its degree of truth or falsity.
  ‘Indian rice exporters might face tough competition in the International market’, allege the exporters. International demand for Indian rice surfaced, either due to its low prices or due to the crop failure in other competitive countries. However, our competitors are having a good crop of rice this year and which indeed sounds as a threat for India, they pointed out. The leading producing countries like Thailand, Vietnam, Myanmar, USA and Pakistan are bringing down their prices at par with Indian prices. Internationally, these countries have reduced price by $ 50 per tonne in lower grades, coming almost at par with Indian prices. Indian rice currently quoting price between $ 260 and $ 265 per tonne. However, in high grade the difference still remains high. Therefore, India can expect to be competitive in high grades provided the quality and deliveries are ensured in time. Pakistan is our main competitor and it has reduced its price by 15 per cent coming almost in line with the Indian prices. The very fact that international producers have started to reduce their price is a signal for Indian exporters to gear up for 2013–14.