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Question

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-ll is the correct explanation for Statement-I.
(b) Both Statement-I and Statement-II are correct and Statement-l is not the correct explanation for Statement-I.
(c) Statement-l is correct but Statement-II is incorrect.
(d) Statement-I is incorrect but Statement-II is correct.

Answer:

D

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Explanation:

Statement-I: India does not account for 3.2% of global exports of goods. Based on the WTO data released in April 2019, for the year 2018, India's share in global exports for merchandise was 1.7% and in global imports was 2.6%.

Statement-II: It is true that many local companies and some foreign companies operating in India have taken advantage of India's Production-linked Incentive (PLI) scheme. The PLI scheme is a government initiative aimed at promoting domestic manufacturing in various sectors by providing financial incentives and support to eligible companies.

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