Which of the following statements about the Trans-Pacific Partnership (TPP) are correct?

Introduction / Context:
The Trans-Pacific Partnership (TPP) was a proposed mega regional trade agreement involving a group of Pacific Rim countries. It attracted global attention because of the sheer size of the combined economies and the ambition of its provisions beyond traditional tariff reduction. Examinations often frame questions around basic facts about the TPP, such as the number of member countries at the time of signing, its economic significance and whether India was part of it.

Given Data / Assumptions:

• Statement 1: The TPP was signed by 12 Pacific Rim nations in the year 2015.
• Statement 2: The TPP was likely to be a game-changer in global trade as member countries accounted for about 40 percent of global GDP.
• Statement 3: India is a founder member of the TPP.
• The options ask which combination of these statements is correct.

Concept / Approach:
The original TPP was indeed signed by 12 Pacific Rim countries, including the United States, Japan, Australia and others, around 2015. The combined economic weight of these countries was roughly 40 percent of global GDP, making it highly significant. However, India was not a part of the TPP negotiations or the initial membership. Therefore, statements 1 and 2 are correct, while statement 3 is incorrect. The correct option must therefore be the one that includes 1 and 2 only.

Step-by-Step Solution:
Step 1: Evaluate statement 1. It correctly states that the TPP was signed by 12 Pacific Rim countries in 2015. These included the United States, Canada, Mexico, Japan, Australia, New Zealand and several Southeast Asian and Latin American countries. Step 2: Evaluate statement 2. Because the TPP grouping included major developed and emerging economies, their combined GDP accounted for roughly 40 percent of global output, so describing it as a potential game-changer in global trade is accurate. Step 3: Evaluate statement 3. India did not participate as a negotiating or founding member of the TPP and was not included in the list of signatories. India trade focus at that time was on other regional agreements such as RCEP and bilateral FTAs. Step 4: Therefore, statement 3 is incorrect. Step 5: Since statements 1 and 2 are correct and statement 3 is incorrect, the correct option is “1 and 2 only”.

Verification / Alternative check:
Standard international relations and economics textbooks as well as contemporary news coverage described the TPP as a 12-country agreement including the United States, Canada, Mexico, Japan, Australia, New Zealand, Singapore, Malaysia, Vietnam, Brunei, Chile and Peru. Lists of member countries during that period never included India. These sources also emphasised the large share of world GDP represented by these economies, usually quoted around 40 percent. This independent confirmation supports the conclusion that statements 1 and 2 are correct while statement 3 is not.

Why Other Options Are Wrong:

• Option A (1, 2 and 3) is wrong because it includes statement 3, which falsely claims India as a founder member.
• Option C (2 and 3 only) is wrong because statement 3 is incorrect and it leaves out the correct statement 1.
• Option D (1 only) is wrong because it ignores statement 2, which is also correct.

Common Pitfalls:
A common mistake is to assume that India participates in every major regional trade initiative and therefore to mark statement 3 as correct out of habit or national bias. Another pitfall is to hesitate over the 40 percent figure and incorrectly doubt statement 2, even though the exact number is widely quoted in exam materials. To avoid such errors, it helps to memorise that India was not part of the original TPP and that the agreement was notable for its very large combined economic size.

Final Answer:
1 and 2 only