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

The Information Technology industry in India, consists of two segments – Information Technology services (ITS) and Business Process Outsourcing (BPO). With the government’s liberal policies, growth of private players and infrastructure, the industry is poised for further growth.

Which of the following industries has been a major foreign exchange earner in the last few years 10?

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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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 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.

Why is Information Technology industry a major foreign exchange earner?

The IT industry has been a major foreign exchange earner in the last few years because of its fast growing Business Processes Outsourcing (BPO) sector. The continuing growth in hardware and software is the key to the success of IT industry in India.

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 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.

What has been the impact of IT industry on employment class 10?

The impact of IT and Electronic Industries are: (i)A major impact of this industry has been on employment generation. It is encouraging to know that 30 per cent of the people employed in this sector are women. … (iii)The continuing growth in the hardware and software is the key to the success of IT industry in India.

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What is information technology in industry?

The information technology (IT) sector includes companies that produce software, hardware or semiconductor equipment, and companies that provide internet or related services. … Companies are aligned to a specific sub-industry that best describes their core or most profitable business.

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).

What is the second largest foreign exchange earner in India?

Indian Economy

At present, gems and jewellery is the second largest foreign exchange earner in the country surpassing even what was earned by the textile and apparel 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.

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

Agriculture leads net foreign exchange earnings.

How many years has industry been a major foreign exchange earner?

(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.

What is the contribution of the Electronic & Information Technology industry?

The IT industry accounted for 8% of India’s GDP in 2020. According to STPI (Software Technology Park of India), software exports by the IT companies connected to it, stood at Rs. 1.20 lakh crore (US$ 16.29 billion) in the first quarter of FY22.

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What is the importance of information technology and electronics industry?

(i) It has provided employment to over one million people. (ii) This industry is said to be a major foreign exchange earner. (iii) It has helped in the growth of the service sector. (iv) It provides employment to innumerable men and women.