There is a huge demand for cash crops abroad. For e.g. India exports 80% of the coffee it produces earning precious foreign exchange.
Which crop brings highest foreign earnings in India?
India has earned more than Rs 18,000 crore foreign exchange per year from export of basmati rice, especially from the variety 1121 developed by the country’s top agri-institute ICAR, Agriculture Minister Radha Mohan Singh said today.
Which crop is the largest foreign exchange earner?
Petroleum: India’s largest foreign exchange earner.
Which crops mainly grown for foreign exchange?
They play vital roe in improving the economy of the country. Economic importance : Most of the plantation crops are export oriented Ex : Cashew nut, beetlevine, Arecanut and Tea. Plantation crops earn foreign exchange for the country and they occupy 75% of the total earnings from the export of the agricultural produce.
Which industry is the 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%.
What is India the largest producer of?
India is the world’s largest producer of milk, pulses and jute, and ranks as the second largest producer of rice, wheat, sugarcane, groundnut, vegetables, fruit and cotton. It is also one of the leading producers of spices, fish, poultry, livestock and plantation crops.
Which of the following fruit is 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 of the following is the most valuable doller earning crop of India?
List of most valuable crops and livestock products
|Crop||Global gross production value in billion USD||Country with highest gross production value in billion USD|
|Buffalo milk, whole fresh||$56.4||$43.1 (India)|
|Cotton lint||$50.5||$18.6 (Mainland China)|
|Apples||$45.9||$20.8 (Mainland China)|
|Onions, dry||$42.1||$23.9 (Mainland China)|
Why are agricultural exports important?
In addition, agricultural exports help support rural communities across the United States, with each dollar of exports stimulating another $1.27 in business activity. Agricultural imports are also important, as U.S. consumers are more dependent on them for certain commodities, as well as, for year-round supply.
How many agriculture are there in India?
The arable land area in the country is the second largest in the world after United States. The total cultivated land area in India in fiscal year 2016 was approximately 1.5 million hectares. According to the World Bank, as of 2015, approximately 38 percent of the land area in India is suitable for agriculture.
Which is the most important plantation crop grown in India name its two major producing states?
Tea is most important plantation crops. it is grown in Sikkim and Assam.
Which is the largest producer of wheat in India?
Uttar Pradesh: The largest producer of wheat is the country Uttar Pradesh.it stands 4th as per area and population-wise. It contributes to its economy mainly by producing wheat and sugar cane in the agricultural sector.
Which of the following industries has been a major foreign exchange earner of 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.