Choose the given statement that is true/false.

Is it true that it is advantageous for foreign companies to set up production in India?

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True

False

answer is A.

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Detailed Solution

The above statement is true.
Workers in India get paid far less than those in wealthy countries like the USA. That, in turn, results from the fact that goods and services in India are far less expensive than in developed countries. The major cause of all of these is that, in terms of absolute dollars, per capita consumption in India is significantly lower than that of industrialised countries. In addition, compared to its population, India has a paucity of work options. Consequently, it is simple to find cheap labour. Even some highly educated professionals from India are migrating to the United States because they believe that only rich countries can afford to pay them well.

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