Complete answer: Out of the given options, the industry in which India earns its maximum foreign exchange is Iron industry. The value of iron metal traded from India added up to almost 186 billion rupees in the financial year 2020.
Which is the second largest foreign exchange earner in India?
Indian Economy
At present, gems and jewellery is the second largest foreign exchange earner in the country surpassing even what was earned by the textile and apparel sector.
What is the leading foreign exchange earner?
TOURISM is not only the world’s leading service sector but also considered to be an important foreign exchange earner around the world. … All the countries in the world strive for economic benefits by developing tourist resorts for attracting the “global tourists”.
Which of the following is the biggest contributor of foreign exchange reserve of India?
The biggest contributor to this reserve is foreign currency assets followed by the gold, SDR, and reserve with the International Monetary Fund.
Which crop is the largest foreign exchange earner?
Detailed Solution. Tea is the major foreign exchange earner crop for Sri Lanka garnering approximately 1.5 billion dollars through export.
Which country exports the most to India?
India exports approximately 7500 commodities to about 192 countries. The following table shows India’s 10 largest destinations for exports in 2019-2020.
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Export partners.
| Rank | 1 |
|---|---|
| Country | United States |
| Value (US$ billion) | 57.7 |
| Share of overall exports | 16.94% |
Who are India’s biggest trading partners?
NEW DELHI: The US has overtaken China as India’s largest trading partner, thanks to faster growth during the first nine months of 2021. Data collated by the commerce department showed that during January-September, two-way trade between India and the US jumped 50% to $28 billion.
What is the third most traded currency?
Template:Most traded currencies
| Rank | Currency | ISO 4217 code (symbol) |
|---|---|---|
| 1 | United States dollar | USD (US$) |
| 2 | Euro | EUR (€) |
| 3 | Japanese yen | JPY (¥) |
| 4 | Pound sterling | GBP (£) |
What is foreign exchange earner?
Foreign exchange earnings are profits made from selling goods and services in a global marketplace, though in some cases, currency is simply exchanged in order to make these earnings without goods or services being sold. … Individuals can also make foreign exchange earnings by trading in the Forex market.
What is the main source 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.
Which of the following is the biggest contributor in foreign exchange reserve?
10 Countries with the Biggest Forex Reserves
| Rank | Country | Foreign Currency Reserves (in billions of U.S. dollars) |
|---|---|---|
| 1 | China | $3,399.9 |
| 2 | Japan | $1,387.4 |
| 3 | Switzerland | $850.8 |
| 4 | Russia | $562.3 |
Which is the major component of India’s foreign exchange reserves?
India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country’s reserve position with the IMF. On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $2.094 billion to $575.487 billion.
What is India’s current foreign exchange reserve?
India’s foreign exchange reserves up by $1.492 billion to $641 billion.