Consider the following statements:
Statement-I: India accounts for 3.2% of global export of goods.
Statement-I

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?

Accepted Answer

Statement-I: India's share of global export of goods. As per recent data from sources like the WTO and various economic surveys (e.g., for 2022-23), India's share in global merchandise exports typically hovers around 1.8% to 2.0%. The figure of "3.2%" is significantly higher and therefore, Statement-I is **Incorrect**.

Statement-II: The 'Production-linked Incentive' (PLI) scheme is a flagship initiative of the Indian government launched to boost domestic manufacturing, enhance exports, and attract foreign investments across various sectors. The scheme provides incentives on incremental sales from products manufactured in India. Many local companies and foreign companies operating in India have indeed availed themselves of the benefits under this scheme, leading to increased production and investment in eligible sectors. Thus, Statement-II is **Correct**.

Answer

Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I

Answer

Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I

Answer

Statement-I is correct but Statement-II is incorrect

Answer

Statement-I is incorrect but Statement-II is correct

Explanation

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