Consider the following statements : Statement-I : India accounts for 32% 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

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Q: 68 (IAS/2023)
Consider the following statements :
Statement-I : India accounts for 32% 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?

question_subject: 

Economics

question_exam: 

IAS

stats: 

0,14,5,4,1,0,14

The correct answer states that Statement-I is incorrect but Statement-II is correct (Option 4). Statement-I states that India accounts for 32% of global export of goods. That`s a considerable overestimation as India`s share in global exports of goods is certainly not as high as 32%. It`s generally around 2%, indicating that Statement-I is incorrect. Statement-II, on the other hand, is accurate. Many local companies and some foreign companies operating in India have indeed leveraged India`s Production-linked Incentive scheme to increase their production efficiency and competitiveness, making Statement-II correct. Therefore, Option 4 (Statement-I is incorrect, but Statement-II is correct) is the right answer.