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Prelims 2023 · Q88 · Trade & WTO

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?

Show answer

Answer: D. Statement-I is wrong: India's share of world merchandise exports was only about 1.8 percent in 2022. Statement-II is correct: many Indian and foreign firms (for example in mobile phones) have used the Production Linked Incentive schemes. So I is incorrect, II is correct.

Watch for: India's share of services exports is much bigger, about 4 percent, which can confuse the goods figure.

Why the other options are wrong
  • A. Wrong because Statement-I is false.
  • B. Wrong because Statement-I is false.
  • C. Wrong because Statement-I is false and Statement-II is true.

Source to check: WTO World Trade Statistical Review 2023; Ministry of Commerce and Industry / PIB releases on PLI schemes

Answer from the official UPSC key. Written and fact-checked by AI against the official key. Spotted a mistake? Report it.