You asked: Which is second largest foreign exchange earner in India?

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.

What is the largest foreign exchange earner in India?

The Tea Industry in India is the major foreign exchange earner and labour intensive employment generation sector.

Is Jute the largest foreign exchange earner?

Jute Business in India is one the major foreign exchange earner for the country. Jute is one of the most popular natural fibers next only to cotton. …

Which industry is 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%.

Which agricultural product is the largest earner of foreign exchange for India?

So, the correct answer is ‘Tea

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Which fruit earns highest foreign exchange?

In value terms grapes and mango exports earn the maximum foreign exchange for India. Among Vegetables, onion and potato are the most important ones among the fresh vegetables, both in terms of quantity exported and value.

Which industry is India’s major foreign exchange earner?

Petroleum: India’s largest foreign exchange earner.

Which is the highest foreign exchange earning crop?

Tea, the most important plantation crop, is a large foreign exchange earner, with an export value of $367.2 million in 2001, based on exports of 177,603 tons. Production in 1999 was 749,000 tons, the highest in the world and 26% of global production.

How does India earn foreign exchange?

India’s foreign exchange reserves are mainly composed of US dollar in the forms of US government bonds and institutional bonds. with nearly 6.03% 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.

WHY IT industry has been a major foreign exchange earner in recent years?

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. The continuing growth in the hardware and software is the key to the success of IT industry in India.

Which of the following industries has been major foreign exchange earner for India in the last few year?

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.

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What is the percentage of farmers in India?

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 main source of earning foreign exchange in IT sector and how it is possible?

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

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