Which industry has been the major earner of foreign exchange in the recent years?

The industry that has earned our country a major, sizeable share of foreign exchange, is the Information Technology industry. In the last two decades, the contribution to India’s GDP from Information Technology, has grown by 6.5%.

WHY IT industry has been a major foreign exchange earner in recent years?

(iv) This industry has been a major foreign exchange earner in the last two or three years because of its fast growing Business Processes Outsourcing (BPO) sector. (v) The continuing growth in the hardware and software is the key to the success of Information Technology industry in the country.

Which of the following industries has been a major foreign exchange earner in the last few years * 1 point?

In recent years, India is earning large foreign exchange through the export of information technology. The information technology in India is comprised of two-component, viz., Business Process Outsourcing (BPO) and IT services. The sector has increased its contribution to India’s GDP from 1.2% in 1988 to 7.7% in 2017.

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Which industry is India’s major foreign exchange earner?

Petroleum: India’s largest foreign exchange earner. Petroleum is emerging as the largest foreign exchange sector in India with 16.2 per cent share petroleum exports are expected to exceed $ 20 billion in this financial year.

What is the second largest foreign exchange earner in India?

According to Ministry of Tourism (Government of India), during 2018, foreign tourist arrivals (FTAs) in India stood at 10.56 million and it is contributing US $ 28585 million as a Foreign Exchange to the economy. In case of balance of payments of India also, tourism sector is contributing a huge amount.

Which industry has been a major foreign exchange earner?

The industry that has earned our country a major, sizeable share of foreign exchange, is the Information Technology industry. In the last two decades, the contribution to India’s GDP from Information Technology, has grown by 6.5%.

Which industry has been a major foreign exchange earner because of its BPO sector?

“Business Process Outsourcing (BPO)” sector is considered as the major source of foreign exchange for IT industry. Explanation: In BPO sector, there is a contract or agreement done between the company and third party provider related to human resource, payroll, accounting and customer or call center relations.

Which of the following has been the major impact of IT industry?

The impact of IT and Electronic Industries are: (i)A major impact of this industry has been on employment generation. … (ii)This industry has been a major foreign exchange earner in the last two or three years because of its fast growing Business Processes Outsourcing (BPO) sector.

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Which of the following industries is the private sector?

[Solved] Which one of the following industries comes under public sec.

Which one of the following is not the category of industry?

Explanation: Jute does not come under the category of consumer industry.

Which industry earns the highest net foreign exchange from the trade?

Complete answer:

Out of the given options, the industry in which India earns its maximum foreign exchange is Iron industry. The value of iron metal traded from India added up to almost 186 billion rupees in the financial year 2020.

What is foreign exchange earner?

Foreign exchange earnings are profits made from selling goods and services in a global marketplace, though in some cases, currency is simply exchanged in order to make these earnings without goods or services being sold. … Individuals can also make foreign exchange earnings by trading in the Forex market.

Which crop is the largest foreign exchange earner?

Detailed Solution. Tea is the major foreign exchange earner crop for Sri Lanka garnering approximately 1.5 billion dollars through export.

Which crop brings highest foreign earnings in India?

Rice is India’s biggest foreign exchange earning farm commodity, with shipments worth $8.82 billion in the fiscal year that ended in March 2021, government figures show. Until two seasons ago, India’s annual rice exports averaged about 11 million to 12 million tonnes.

Which country exports the most to India?

The United States was the largest export destination for Indian exports in fiscal year 2020, accounting for nearly 17 percent. United Arab Emirates followed at over nine percent of India’s exports that same year.

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