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Question

Which of the following statements is/are correct in regards to the service sector in Economic Survey 2022-23?

1.India is the world’s 7th largest services exporter

2.The services sector has also been the largest recipient of foreign direct investment

3.India ranked 10th in the Medical Tourism Index 2021.

A 1 & 2 Correct Answer Incorrect Answer
B 2 & 3 Correct Answer Incorrect Answer
C 1 & 3 Correct Answer Incorrect Answer
D All Correct Answer Incorrect Answer
E None Correct Answer Incorrect Answer

Solution

India is the world’s 7th largest services exporter. Share of the services sector accounted for 54% of the total Gross Value Added (GVA) in FY21. The services sector has also been the largest recipient of foreign direct investment, making up for 53% of the total inflows between 2000 and 2021 and India ranked 10th in the Medical Tourism Index 2021.

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