The table given below depicts the composition of Indias exports between 1992-93 and 1994-95 . The changing composition of the export trade is indicative of structural transformation of Indian economy in favour of modernisation. The best indicator of the t

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Q: 140 (IAS/1996)
The table given below depicts the composition of India’s exports between 1992-93 and 1994-95 . The changing composition of the export trade is indicative of structural transformation of Indian economy in favour of modernisation. The best indicator of the trend is the
Items1992-931993-941994-95
Agriculture & allied products1.6.91.81.5.9
Ores A Minerals4. 43.7
Manufactured floods75.575.678
Petroleum Products2.61.81.9

question_subject: 

Economics

question_exam: 

IAS

stats: 

0,42,41,11,23,7,42

keywords: 

{'indian economy': [0, 3, 3, 5], 'exports': [0, 0, 2, 1], 'export trade': [0, 1, 0, 0], 'petroleum products': [0, 0, 0, 1], 'agricultural products': [0, 1, 0, 3], 'structural transformation': [0, 1, 0, 0], 'composition': [0, 0, 0, 1], 'india': [8, 1, 7, 13], 'modernisation': [0, 1, 1, 1], 'products': [1, 3, 4, 8], 'trend': [0, 2, 1, 2], 'minerals': [1, 0, 2, 6]}

The question is asking about the structural transformation of the Indian economy towards modernisation, as indicated by the composition of India`s exports between 1992-93 and 1994-95.

Option 1: The share of petroleum products in exports fluctuates but does not show a clear trend towards increase or decrease, and hence does not indicate modernisation.

Option 2: The share of agricultural products in exports is shown to slightly decline. This could be interpreted as a move towards modernization, however, the decrease is not substantial and therefore not the best indicator.

Option 3: Ores and minerals maintain a constant share in exports over the two years for which data is provided. This does not demonstrate a transformation towards modernisation.

Option 4: The share of manufactured goods in exports shows a clear increasing trend from 75.5 to 78 over the period. The increase in export of manufactured goods is indicative of a trend towards modernisation and industrialisation, as manufacturing industries are generally a key driver of economic growth and development. This makes option 4 the best indicator of the trend of modernisation of Indian economy.