Which of the following industries has been a major foreign exchange earner in 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 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%.

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.

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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?

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.

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

Answer: “Business Process Outsourcing (BPO)” sector is considered as the major source of foreign exchange for IT industry.

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

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.

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 contributing to India’s foreign exchange earning the most through exports?

It is generally believed that services is driving India’s exports and also net foreign exchange earnings.

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.

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 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.

What is the difference between the foreign exchange earned by India in the year 2008 and 2010?

One Indian rupee is equal to 0.014 U.S. dollars and 0.011 euros (as of January 2021).

Foreign exchange earnings from tourism in India from 2000 to 2020 (in billion U.S. dollars)

Characteristic Foreign exchange earnings in billion U.S. dollars
2011 16.56
2010 14.19
2009 11.39
2008 11.83

Which crops mainly grown for foreign exchange?

Export potential: Plantation crops earn foreign exchange. Eg. Coir based products ,Coir export and Coffee .

What is the major obstacle to India’s economic growth?

The Biggest Obstacle to India’s Economic Growth is the Government’s Fraught Relationship with the Private Sector. A businessman holding money in the form of Indian Rupees.

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