Which industry has been a major foreign exchange earner?

Which industry has a major foreign exchange?

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 of the following industries has been a major foreign exchange earner in the last few years 10?

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 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.

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

“Business Process Outsourcing (BPO)” sector is considered as the major source of foreign exchange for IT industry. Explanation: In BPO sector, there is a contract or agreement done between the company and third party provider related to human resource, payroll, accounting and customer or call center relations.

Why is information technology industry a major foreign exchange earner?

The impact of IT and Electronic Industries are: … (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. (iii)The continuing growth in the hardware and software is the key to the success of IT industry in India.

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

Export of hardwares and softwares.

What is information technology in industry?

The information technology (IT) sector is comprised of companies that produce software, hardware or semiconductor equipment, or companies that provide internet or related services. … Companies are aligned to a specific sub-industry that best describes their core or most profitable business.

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What are Software Technology Parks explain the significance of information technology industry in India which city is known as electronic capital of India?

Bengaluru is referred as the electronic capital of India because it plays the maximum role as the country’s leading information technology (IT) exporter. It is said to be one of India’s largest electronic/IT industrial parks, stretching over 800 acres (3.2 km²).

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 industries is the private sector?

[Solved] Which one of the following industries comes under public sec.

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

Export of hardwares and softwares.

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.

Which 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.

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