Choose the given statement is true/false:

MNCs have been interested in industries like cell phones, automobiles, soft drink, fast food and services like banking in urban areas.

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Detailed Solution

The above statement is true.
Multinational corporations (MNCs) tend to focus on industries with considerable consumer demand. The demand for products like cell phones, automobiles, fast food and several services has been on the rise ever since the people's standard of living in India has improved. For this reason, MNCs are interested in these industries. Besides, in India, labour and raw materials are available at considerably lower costs, making it lucrative for companies to set up business units here. As a result, the competition in the market increases, and local companies also improve the quality of their products.

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