Economy2023
Consider the following statements: Statement-I: India accounts for 3.2% of global export of goods. Statement-II: Many local companies and some foreign companies operating in India have taken advantage of India’s ‘Production-linked Incentive’ scheme. Which one of the following is correct in respect of the above statements?
Explanation
The option is correct because, as of recent data, India accounts for a lower percentage of global goods exports than 3.2%, indicating that Statement-I is incorrect. In contrast, the Production-linked Incentive (PLI) scheme, launched to boost manufacturing and attract investment, has indeed seen participation from numerous domestic and foreign companies, illustrating that Statement-II is accurate. This distinction highlights India's strategies for economic growth and development in the context of international trade, aligning with UPSC's focus on current economic policies and their implications.
