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Q.No. 55 − 60
To make India a globally competitive economy, there must be a larger focus on exporting to the most demanding markets. A stronger participation of Indian Micro, Small and Medium Enterprises (MSMEs) in the global market can accelerate such a growth. This will lead to more opportunities in scaling up production, will speed up innovation and productivity. The MSME sector in India is the backbone of our country's economic structure and without this the country cannot progress. With over 63 million, MSME units, this sector covers80 % 31 % 45 %
To make India a globally competitive economy, there must be a larger focus on exporting to the most demanding markets. A stronger participation of Indian Micro, Small and Medium Enterprises (MSMEs) in the global market can accelerate such a growth. This will lead to more opportunities in scaling up production, will speed up innovation and productivity. The MSME sector in India is the backbone of our country's economic structure and without this the country cannot progress. With over 63 million, MSME units, this sector covers
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Question : 55
Total: 60
Read the following statements-Assertion (A) and Reason (R) carefully, choose the correct alternative given below:
Assertion (A): Globalisation has resulted in higher inflows of foreign exchange in the Indian economy.
Reason (R): Globalisation implies integration of domestic economy with rest of the world through trade and capital flow.
Assertion (A): Globalisation has resulted in higher inflows of foreign exchange in the Indian economy.
Reason (R): Globalisation implies integration of domestic economy with rest of the world through trade and capital flow.
Solution:
(a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
Explanation: Globalisation refers to the worldwide interconnection of people, domestic economies and enterprises that eventually leads to global cultural, political and economic integration. When trade with foreign countries takes place, it results in a high inflow of foreign exchange into the economy of India.
Explanation: Globalisation refers to the worldwide interconnection of people, domestic economies and enterprises that eventually leads to global cultural, political and economic integration. When trade with foreign countries takes place, it results in a high inflow of foreign exchange into the economy of India.
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