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UPSC Prelims 2023GS1EconomyInternational Trade and Industrial Policy (PLI Scheme)

Q68. 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?

A. (a) Both Statement-I and Statement-II are correct and Statement- II is the correct explanation for Statement-I
B. (b) Both Statement-I and Statement-II are correct and Statement- II is not the correct explanation for Statement-I
C. (c) Statement-I is correct but Statement- II is incorrect
D. (d) Statement-I is incorrect but Statement-II is correct✓ Correct

Detailed Solution

✓ Correct Answer: Option D

India's share in global merchandise exports is significantly lower than 3.2%, typically hovering around 1.8% to 2.5%. Therefore, Statement I is incorrect. The Production-Linked Incentive (PLI) scheme, launched by the Indian government, aims to boost domestic manufacturing and exports by offering incentives on incremental sales.

This scheme is open to both domestic and foreign companies operating in India, and many have indeed taken advantage of it across various sectors like electronics, pharmaceuticals, and automobiles. This makes Statement II correct.

The question tests knowledge of India's economic performance and industrial policies, relevant for UPSC Economy and Current Affairs.

Current Affairs Link

Production-Linked Incentive (PLI) scheme.

All Economy Questions →All International Trade and Industrial Policy (PLI Scheme) Questions →← Back to Full Paper

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