Which of the following industry has been a major foreign?

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 of the following has been a major source of foreign exchange for IT industry?

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

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.

IT IS INTERESTING:  Question: What is the difference between wholesaler and travel agent?

Which is the best source of exchange?

Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, offer the added benefit of having ATMs overseas. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.

What is manufacturing to which sector of economy does IT belong?

Manufacturing belongs to secondary sector in which the primary materials are processed and converted into finished goods. The economic strength of a country is measured by the development of manufacturing industries.

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.

Which of the following items is the highest foreign exchange earner in India?

Out of the given options, the industry in which India earns its maximum foreign exchange is Iron industry. The value of iron metal traded from India added up to almost 186 billion rupees in the financial year 2020.

Which one of the following is contributing to a large amount of foreign exchange in India?

Export of hardwares and softwares.

What are the major source of foreign currency?

Three sources of supply of foreign exchange are :

  • Exports: Exports of goods and services is an important source of supply of foreign exchange.
  • Grants and donations from rest of the world: A significant amount of foreign exchange flows from rich to poor countries by way of grants and donations.
IT IS INTERESTING:  What is Tier 3 general visa UK?

What are the sources of foreign exchange?

Two sources of supply of foreign exchange are: (i) Export of goods and services from domestic country to foreign country. (ii) Foreign direct investment. (i) Payment of loans and interest to international organisations.

What are the sources of foreign exchange in India?

India’s foreign exchange reserves are mainly composed of US dollar in the forms of US government bonds and institutional bonds. with nearly 6.36% of forex reserves in gold. The FCAs also include investments in US Treasury bonds, bonds of other selected governments and deposits with foreign central and commercial banks.

What are the 4 types of manufacturing industry?

Types of Manufacturing Industries

  • Clothing and Textiles. Companies that process raw wool, cotton and flax to make cloth are categorized under the clothing and textiles sector. …
  • Petroleum, Chemicals and Plastics. …
  • Electronics, Computers and Transportation. …
  • Food Production. …
  • Metal Manufacturing. …
  • Wood, Leather and Paper.

What is the main manufacturing industries?

Among the most important manufacturing industries are those that produce aircraft, automobiles, chemicals, clothing, computers, consumer electronics, electrical equipment, furniture, heavy machinery, refined petroleum products, ships, steel, and tools and dies.

What are manufacturing industries?

The manufacturing industries are industries transforming goods, that is, mainly manufacturing industries in their own right, but they also concern the repair and installation of industrial equipment and subcontracting operations for third parties.