BPO are the major source of foreign exchange for IT industry.
Which one of the following is a major source of India’s large foreign exchange?
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%.
Which of the following industries has been a major foreign?
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 is the major component of India’s foreign exchange reserves?
The foreign currency assets (FCA) is the major component of the overall reserves.
Which one of the following is included in India’s foreign exchange reserves?
The correct answer is Foreign-currency assets, gold holdings of the RBI and SDRs. India’s foreign-exchange reserves include Foreign-currency assets (FCA), Gold reserves, Special Drawing Rights (SDRs) and reserve position with the IMF.
Which industry has been a major foreign exchange earner because of its BPO sector?
“Business Process Outsourcing (BPO)” sector is considered as the major source of foreign exchange for IT industry. Explanation: In BPO sector, there is a contract or agreement done between the company and third party provider related to human resource, payroll, accounting and customer or call center relations.
Which industry is a prime source for the generation of foreign exchange?
Tourism generates major economic benefits to these countries ranging from economic stimulation, GDP growth and to providing access to foreign exchange used in improving balance of trade.
In which sector are the manufacturing industries placed?
Manufacturing Industries are placed in secondary sector.
Which of the following is a source of supply of foreign exchange?
Two sources of supply of foreign exchange are: (i) Export of goods and services from domestic country to foreign country. (ii) Foreign direct investment. (i) Payment of loans and interest to international organisations.
What is included in foreign exchange reserve?
Foreign exchange reserves are also known as reserve assets and include foreign banknotes, foreign bank deposits, foreign treasury bills, and short and long-term foreign government securities, as well as gold reserves, special drawing rights (SDRs), and International Monetary Fund (IMF) reserve positions.
What are foreign reserves?
What Are Foreign Exchange Reserves? Foreign exchange reserves are assets held on reserve by a central bank in foreign currencies. These reserves are used to back liabilities and influence monetary policy. It includes any foreign money held by a central bank, such as the U.S. Federal Reserve Bank.
Which of the following items constitutes international reserves?
These may include foreign banknotes, bank deposits, bonds, treasury bills, and other government securities. Colloquially, the term foreign exchange reserves may also mean gold reserves or IMF funds.
Which of the following does not form a part of the foreign exchange reserves of India?
Hence silver holding does not form a part of the foreign exchange reserves of India.
Why was the SDR created?
The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. … The value of the SDR is based on a basket of five currencies—the U.S. dollar, the euro, the Chinese renminbi, the Japanese yen, and the British pound sterling.