Consider the following statements:
1. India has expanded into new export markets such as Zimbabwe and Romania.
2. India is the world’s largest exporter of telecommunications and information services.
3. Imports of silver and precious metals have decreased in India over the last two years.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) 2 and 3 only
(d) 1, 2 and 3
Explanation Statement 1 is correct: The Economic Survey stated that a significant trend in India’s trade landscape has been the expansion into new export markets, including Zimbabwe, Vietnam, Tanzania, Uganda, Tunisia, Romania, Qatar, and the Philippines. Between April and November 2024, India successfully penetrated several untapped destinations, increasing its presence in markets where it had little or no footprint in 2023.
Statement 2 is not correct: As per the Economic Survey, India’s services sector has been a major contributor to trade resilience. The country commands a 10.2 per cent share of global exports in telecommunications, computer, and information services, ranking as the world’s second-largest exporter in this category. India also holds a 7.2 per cent share in other business services, demonstrating its strong footing in consulting, outsourcing, and professional services.
Statement 3 is not correct: Non-petroleum, non-gems & jewellery imports (which include gold, silver & precious metals) increased from USD 33.96 billion (Feb 2024) to USD 35.02 billion (Feb 2025). Also, Non-petroleum and non-gems & jewellery exports in February 2025 were USD 28.57Billion compared to USD 29.99Billion in February2024.
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