Engineering Goods Hold Top Share in Indian Exports
Understanding the composition of India's exports is crucial for grasping the country's economic performance on the global stage. Different commodities contribute varying amounts to the total export value. This question asks us to identify which category among the given options has the largest share in India's overall exports.
Analyzing Indian Export Categories
Let's look at the contribution of each category to Indian exports:
- Agricultural Products: While India is a major agricultural producer, its share in global agricultural trade, and consequently its contribution to total Indian exports, while significant, is often surpassed by manufactured goods. Key items include rice, spices, tea, coffee, and marine products.
- Mineral Ores: India exports various mineral ores like iron ore and manganese ore. However, the value and volume can fluctuate based on global demand and prices. Their share is substantial but typically not the largest compared to manufactured goods.
- Handicrafts: Indian handicrafts are known worldwide for their quality and artistry. They represent a vital part of the cultural heritage and provide employment to many artisans. However, in terms of total export value, handicrafts constitute a smaller segment compared to major industrial or manufactured goods.
- Engineering Goods: This category includes a wide range of products like machinery, transport equipment, electrical equipment, and industrial machinery. India has significantly ramped up its manufacturing capabilities over the years, making engineering goods a major driver of its export earnings. This sector benefits from policy support, technological advancements, and increasing global demand for manufactured products.
Identifying the Largest Export Share
Based on the general trends and contributions of various sectors to India's foreign trade, Engineering Goods consistently emerge as one of the largest, if not the largest, contributors to India's export earnings. This sector's growth reflects the increasing competitiveness and diversification of India's manufacturing base.
Therefore, among the choices provided, Engineering Goods represent the commodity group with the greatest share of Indian exports.
Important Questions from Economy
The Five Year Plan was first launched in
Which of the following was/were the feature(s) of Lenin’s New Economic Policy (NEP) for the Soviet Union?
1) Private retail trading was strictly forbidden
2) Private enterprise was strictly forbidden
3) Peasants were not allowed to sell their surplus
4) To secure liquid capital, concessions were allowed to foreign capitalists, but the State retained the option of purchasing the product of such concerns
Select the correct answer using the code given below:
Which one of the following was set as a target of average growth of GDP of India over the plan period 2012-2017 by the Approach Paper to the Twelfth Five year Plan?
In ________ economies, all productive resources are owned and controlled by the government.
Private ownership of the means of production is a feature of a _______ economy.
