Question

To make India a globally competitive economy, there must be a larger focus on exporting to the most demanding markets. A stronger participation of Indian Micro, Small and Medium Enterprises (MSMEs) in the global market can accelerate such a growth. This will lead to more opportunities in scaling up production, will speed up innovation and productivity. The MSME sector in India is the backbone of our country's economic structure and without this the country cannot progress. With over 63 million, MSME units, this sector covers 80% of the industries. This sector accounts for 31 % of GDP and 45% of total exports. It is also thee second largest employer in India providing jobs to over 120 million people. The MSME's should work towards becoming a part of global value chains (GVCs). It must also, find new opportunities to integrate themselves with the GVCs as exporters.

Vocal for local initiative of the Government of India is a boon for the MSMEs segment as it ______.

1. reduces dependence on other countries for import
2. boost entrepreneurship in the country
3. save foreign exchange
4. uses superior technology

विकल्प

• (i) and (ii)

• (i), (ii) and (iv)

• (i), (ii), (iii) and (iv)

• (i), (ii) and (iii)

Answer 1

Vocal for local initiative of the Government of India is a boon for the MSMEs segment as it reduces dependence on other countries for import, boost entrepreneurship in the country and save foreign exchange.

Explanation:

Vocal for local is a component of the Atmanirbhar Bharat Abhiyaan, or self-reliant India, program, which leverages advanced technology, encourages entrepreneurship in India, saves foreign exchange, and lessens reliance on imports from other nations.