Which industry is the largest foreign exchange earner of India?

Petroleum: India’s largest foreign exchange earner. Petroleum is emerging as the largest foreign exchange sector in India with 16.2 per cent share petroleum exports are expected to exceed $ 20 billion in this financial year.

Which item is the largest foreign exchange earner of India?

Complete answer: Out of the given options, the industry in which India earns its maximum foreign exchange is Iron industry. The value of iron metal traded from India added up to almost 186 billion rupees in the financial year 2020.

Which industry is the major foreign exchange earner?

The industry that has earned our country a major, sizeable share of foreign exchange, is the Information Technology industry. In the last two decades, the contribution to India’s GDP from Information Technology, has grown by 6.5%.

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Which is the second largest foreign exchange earner in India?

Indian Economy

At present, gems and jewellery is the second largest foreign exchange earner in the country surpassing even what was earned by the textile and apparel sector.

Which exports do India earn the most foreign exchange?

The top five commodity groups that Indian exported most during July 2021 were petroleum products (215 per cent), gems and jewellery (130 per cent), other cereals (70.25 per cent), man-made yarn and fabrics (58 per cent) and cotton yarn and fabrics (48.02 per cent).

Who are India’s biggest trading partners?

India top 5 Export and Import partners

Market Trade (US$ Mil) Partner share(%)
United States 54,288 16.79
United Arab Emirates 29,539 9.14
China 17,279 5.35
Hong Kong, China 11,478 3.55

Which of the following industry has been a major foreign exchange earner for India in the last few years?

In recent years, India is earning large foreign exchange through the export of information technology. The information technology in India is comprised of two-component, viz., Business Process Outsourcing (BPO) and IT services. The sector has increased its contribution to India’s GDP from 1.2% in 1988 to 7.7% in 2017.

Which industry has been a major foreign exchange earner because of its BPO sector?

Answer: “Business Process Outsourcing (BPO)” sector is considered as the major source of foreign exchange for IT industry.

Which of the following fruit is largest foreign exchange earner?

Detailed Solution. Tea is the major foreign exchange earner crop for Sri Lanka garnering approximately 1.5 billion dollars through export.

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Which industry earns the first highest net foreign exchange from the trade?

The correct answer is Textile.

Is Jute the largest foreign exchange earner?

Being the biggest foreign-exchange earner, jute also figured prominently in the pre-independence political discourse of this region. Unsurprisingly, jute was called ‘Golden Fibre,’ and rightly so. As such, it was natural to expect that jute would get its due place in the country’s economy after independence.

Which crops mainly grown for foreign exchange?

Export potential: Plantation crops earn foreign exchange. Eg. Coir based products ,Coir export and Coffee .

Which is the largest exported commodity of India?

India’s most exported commodity was engineering goods, valued at over 5.6 trillion Indian rupees in fiscal year 2021. This includes products made from iron and steel, non-ferrous metals, industrial machinery, and automobiles among others.

Which product is mostly exported from India?

The following is a list of export product categories that were exported the most and fetched foreign currency for India.

List of exports 2012.

# Product Value
1 Refined petroleum 52,905
2 Jewellery 17,814
3 Pharmaceuticals 10,886
4 Rice 6,109

Which is best export business from India?

So after comprehensive research, I have identified the list of best export businesses in India.

  • Vegetable Export: …
  • Clothing. …
  • Beauty Products. …
  • Seafood Export. …
  • Meat Exports. …
  • Machinery Export Business. …
  • Chemical Exports. …
  • Petroleum Products.