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?
(a) Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I
(b) Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I
(c) Statement-I is correct but Statement-II is incorrect
(d) Statement-I is incorrect but Statement-II is correct
Explanation:
Statement-I is incorrect. India’s share in global exports for merchandise was 1.57 percent of the total global exports in 2020
Statement-II mentions India’s Production-linked Incentive scheme, which is a government initiative to boost domestic manufacturing and exports by providing incentives to companies. Many local and some foreign companies operating in India have taken advantage of this scheme.
Therefore, the correct option is (d) Statement-I is incorrect but Statement-II is correct.
Inputs from IAS EXPRESS Current Affairs Notes
