Q88. Consider the following statements :
Statement-I: India accounts for 3.2% of global exports 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 1 is incorrect but Statement II is correct.
Correct Answer: Option (d)
- According to the recent WTO’s Global Trade Outlook and Statistics report, India accounts for 1.8 % of global exports of goods. Hence, statement I is not correct.
- The ‘Production Linked Initiative’ (PLI) scheme offers companies incentives on incremental sales from products manufactured in India. It aims to attract foreign companies to set up units in India while encouraging local companies to expand their manufacturing units, generate more employment, and reduce the country’s reliance on imports. Hence, statement II is correct.
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