Which of the following industries has been a major foreign exchange earner for India in the last few years?

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.

Which of the following industry has been a major foreign exchange earner for India in the last few 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%.

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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.

Which industry consider as the major foreign exchange earner?

TOURISM is not only the world’s leading service sector but also considered to be an important foreign exchange earner around the world.

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 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.

What are foreign exchange earnings?

Foreign Exchange Earnings means to the monetary gain made by selling goods and services or by exchanging currencies in global markets.

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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 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.

Why is information technology industry a major foreign exchange earner?

The impact of IT and Electronic Industries are: … (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. (iii)The continuing growth in the hardware and software is the key to the success of IT industry in India.

In which sector are the manufacturing industries placed?

Manufacturing Industries are placed in secondary sector.

What are the sources of foreign exchange demand and supply?

Meaning:

  • Imports of Goods and Services: Foreign Exchange is demanded to make the payment for imports of goods and services.
  • Tourism: ADVERTISEMENTS: …
  • Unilateral Transfers sent abroad: …
  • Purchase of Assets in Foreign Countries: …
  • Speculation:

What is information technology in industry?

Information Technology (IT) is a technology that deals with computing, as well as hardware, software, telecommunications and Communications. IT also includes the management of data, whether it text, voice, image, audio,etc. … It can involve things related to the Internet.

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What are Software technology Parks explain the significance of information technology industry in India which city is known as electronic capital of India?

Bengaluru is referred as the electronic capital of India because it plays the maximum role as the country’s leading information technology (IT) exporter. It is said to be one of India’s largest electronic/IT industrial parks, stretching over 800 acres (3.2 km²).