Assertion (A) : The USA re-emerged as India's single lar

Economics

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Assertion (A) : The USA re-emerged as India's single largest import source in the early nineties.

Reason (R) : With swift political developments in the erstwhile Soviet Union, India gradually began to rely on the USA for its defence requirements.

In the context of the above two statements which of the following is correct?

I.A.S. (Pre) 1994

[External Sector - Trade, FDI, Debt]

Both (A) and (R) are true and (R) is the correct explanation of (A)

Both (A) and (R) are true, but (R) is not a correct explanation of (A)

(A) is true, but R is false

(A) is false, but R is true

EXPLANATION

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