Frequent question: Which crop is the largest foreign exchange earner?

Which is the highest foreign exchange earning crop?

Detailed Solution

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

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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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 of the following is the most valuable doller earning crop of India?

List of most valuable crops and livestock products

Crop Global gross production value in billion USD Country with highest gross production value in billion USD
Buffalo milk, whole fresh $56.4 $43.1 (India)
Cotton lint $50.5 $18.6 (Mainland China)
Apples $45.9 $20.8 (Mainland China)
Onions, dry $42.1 $23.9 (Mainland China)

What 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 country exports the most to India?

The United States remains India’s top export partner in 2021-22, followed by China.

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 is an important foreign exchange earning commercial crop of India?

There is a huge demand for cash crops abroad. For e.g. India exports 80% of the coffee it produces earning precious foreign exchange. So, statement 1 is correct. Processing of crops like tobacco, cotton, jute, cashew, etc is generating large forward and backward linkages in the food processing industry.

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How many agriculture are there in India?

The total cultivated land area in India in fiscal year 2016 was approximately 1.5 million hectares. According to the World Bank, as of 2015, approximately 38 percent of the land area in India is suitable for agriculture.

Which of the following product does not earn foreign exchange *?

Complete answer:

The jute trade was never restricted to particular communities, such as India and Pakistan after the secession of Bangladesh (East Pakistan) from Pakistan in 1971. India, through the export of jute, does not receive the full foreign exchange.

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 one of the following is contributing to large amount of foreign exchange?

Export of hardwares and softwares.