India's share of global export of goods 3.2%; Production-Linked Incentive (PLI) scheme utilised by companies
Question
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?
Options
Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I
Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I
Statement-I is correct but Statement-II is incorrect
Statement-I is incorrect but Statement-II is correct
Explanation
Statement-I is incorrect; India accounts for roughly 1.8% of global merchandise (goods) exports, significantly lower than 3.2%. Statement-II is correct; the Production-Linked Incentive (PLI) scheme has been successfully utilized by both domestic and massive foreign corporations (like Apple's contract manufacturers) to boost local manufacturing.
Answer: (d).
Question details
Year
2023
Paper
GS Paper 1
Question
Q88
Subject
Economy
Sub-topic
External Sector & Trade
Type
Assertion-Reason
Difficulty
Medium
Nature
Current-affairs-linked
Source hint
Economic Survey 2022-23 / Production Linked Incentive Execution
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