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Q.

Choose whether the given statement is true or false.


Many services are done cheaply in India and exported to other countries.


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a

True

b

False 

answer is A.

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Detailed Solution

The above statement is true.
For the past few decades, India has emerged as a top exporter of services like information technology and customer care. There is also a major job creation in these sectors. There was an above-average growth rate in the finance, retail, information technology, insurance and realty sectors. The reason for this can be the cheaper cost of these services. Due to India's high population, the labour cost is considerably lower than the rest of the developed countries. The tertiary or service sector also accounts for 60% of the GDP.
 
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