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Direction: Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Read carefully.Since the beginning of this decade, India’s unemployment rate has been juggling from 3.62 percent to 3.41 percent. In 2017, the figure stood at 3.52 percent, roughly above the decade’s mean of 3.51 percent. Now, if you consider India’s population of 1.35 billion, this gives us more than 47 million, or over 4.7 crores, unemployed Indians– who are capable of contributing to the nation’s workforce– always unemployed. But can the situation change for good with the ‘Make in India’ initiative? As a matter of fact, it is an eventual possibility. Before we delve deeper into the subject, let us first understand why ‘Make in India’ is imperative, especially to our nation. India’s top-ten imports account for almost four-fifths (78.2 percent) of its purchases from other countries. Besides mineral fuels, this includes $46.9 billion (10.6 percent) worth of electrical machinery and equipment, $36 billion (8.1 percent) worth of types of machinery such as computers and electronics. Nearly 50 percent of all electronic products sold in India are imported. If India is able to successfully build its manufacturing infrastructure, the nation can save billions of its foreign reserves annually, which is as high as $116.2 billion just out of these commodities, by merely catering to the local demand. But the real fruits of ‘Make in India’ become more apparent if we bring international trade into perspective.For long, India has suffered because of its underdeveloped industrial infrastructure. This is despite the country’s favourable geographical location that has access to nearly all Asiatic countries and a budding market of Africa. The nation, on one hand, holds a central location between Far-Eastern and Middle-Eastern markets, and on the other, has access to European market through the Gulf of Aden, and to Australia via the South East. It has to be also noted that these trade routes are sea-based, that are more economical than land-based freight transportation. If India successfully builds its manufacturing infrastructure matching the global benchmark, the nation has the true potential to emerge as a dominant global supplier. Here, the country is also benefitted by the globally changing demographics.India has one of the youngest populations and will house a billion people aged between 15 and 64 years by 2027, essentially the world’s largest workforce. The country also has the advantage of wage arbitrage with the cost of factory labour less than $2 per hour. Technologically speaking, India’s digitization drive is increasing its overall efficiency and effectiveness in the trade with every day that passes. The nation further benefits by its ability to indigenously build ancillary systems, such as purpose-specific satellites. The nation also has one of the globally leading IT service and support infrastructures and a skilled workforce. These are some of the reasons why multinational organizations are considering the prospect of establishing their manufacturing bases in India.India has recently inaugurated the world’s largest mobile phone factory in association with the South Korean tech giant Samsung in Noida, which is expected to annually manufacture 52 million smartphone units once it achieves full production capacity. The plant will, by itself, generate 15,000 jobs locally and increase Samsung’s India-based production from 10 percent to 50 percent over the next 3 years. Our nation is, moreover, in talks with multiple internationally dominant players, including Apple, while simultaneously acting as a catalyst for its innovation-driven indigenous brands to collectively make it a global manufacturing behemoth, and thereby accomplishing the true vision of ‘Make in India’.What is the most important benefit enjoyed by Indians by establishing manufacturing factories of multinational organizations in India?a)Increase in the sales of the products of these manufacturing organizationsb)Increase in the competition faced by the domestic marketsc)Generation of jobs locallyd)Substantial decrease in imports of electronic itemse)Considerable drop in prices of important goodsCorrect answer is option 'C'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Direction: Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Read carefully.Since the beginning of this decade, India’s unemployment rate has been juggling from 3.62 percent to 3.41 percent. In 2017, the figure stood at 3.52 percent, roughly above the decade’s mean of 3.51 percent. Now, if you consider India’s population of 1.35 billion, this gives us more than 47 million, or over 4.7 crores, unemployed Indians– who are capable of contributing to the nation’s workforce– always unemployed. But can the situation change for good with the ‘Make in India’ initiative? As a matter of fact, it is an eventual possibility. Before we delve deeper into the subject, let us first understand why ‘Make in India’ is imperative, especially to our nation. India’s top-ten imports account for almost four-fifths (78.2 percent) of its purchases from other countries. Besides mineral fuels, this includes $46.9 billion (10.6 percent) worth of electrical machinery and equipment, $36 billion (8.1 percent) worth of types of machinery such as computers and electronics. Nearly 50 percent of all electronic products sold in India are imported. If India is able to successfully build its manufacturing infrastructure, the nation can save billions of its foreign reserves annually, which is as high as $116.2 billion just out of these commodities, by merely catering to the local demand. But the real fruits of ‘Make in India’ become more apparent if we bring international trade into perspective.For long, India has suffered because of its underdeveloped industrial infrastructure. This is despite the country’s favourable geographical location that has access to nearly all Asiatic countries and a budding market of Africa. The nation, on one hand, holds a central location between Far-Eastern and Middle-Eastern markets, and on the other, has access to European market through the Gulf of Aden, and to Australia via the South East. It has to be also noted that these trade routes are sea-based, that are more economical than land-based freight transportation. If India successfully builds its manufacturing infrastructure matching the global benchmark, the nation has the true potential to emerge as a dominant global supplier. Here, the country is also benefitted by the globally changing demographics.India has one of the youngest populations and will house a billion people aged between 15 and 64 years by 2027, essentially the world’s largest workforce. The country also has the advantage of wage arbitrage with the cost of factory labour less than $2 per hour. Technologically speaking, India’s digitization drive is increasing its overall efficiency and effectiveness in the trade with every day that passes. The nation further benefits by its ability to indigenously build ancillary systems, such as purpose-specific satellites. The nation also has one of the globally leading IT service and support infrastructures and a skilled workforce. These are some of the reasons why multinational organizations are considering the prospect of establishing their manufacturing bases in India.India has recently inaugurated the world’s largest mobile phone factory in association with the South Korean tech giant Samsung in Noida, which is expected to annually manufacture 52 million smartphone units once it achieves full production capacity. The plant will, by itself, generate 15,000 jobs locally and increase Samsung’s India-based production from 10 percent to 50 percent over the next 3 years. Our nation is, moreover, in talks with multiple internationally dominant players, including Apple, while simultaneously acting as a catalyst for its innovation-driven indigenous brands to collectively make it a global manufacturing behemoth, and thereby accomplishing the true vision of ‘Make in India’.What is the most important benefit enjoyed by Indians by establishing manufacturing factories of multinational organizations in India?a)Increase in the sales of the products of these manufacturing organizationsb)Increase in the competition faced by the domestic marketsc)Generation of jobs locallyd)Substantial decrease in imports of electronic itemse)Considerable drop in prices of important goodsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Read carefully.Since the beginning of this decade, India’s unemployment rate has been juggling from 3.62 percent to 3.41 percent. In 2017, the figure stood at 3.52 percent, roughly above the decade’s mean of 3.51 percent. Now, if you consider India’s population of 1.35 billion, this gives us more than 47 million, or over 4.7 crores, unemployed Indians– who are capable of contributing to the nation’s workforce– always unemployed. But can the situation change for good with the ‘Make in India’ initiative? As a matter of fact, it is an eventual possibility. Before we delve deeper into the subject, let us first understand why ‘Make in India’ is imperative, especially to our nation. India’s top-ten imports account for almost four-fifths (78.2 percent) of its purchases from other countries. Besides mineral fuels, this includes $46.9 billion (10.6 percent) worth of electrical machinery and equipment, $36 billion (8.1 percent) worth of types of machinery such as computers and electronics. Nearly 50 percent of all electronic products sold in India are imported. If India is able to successfully build its manufacturing infrastructure, the nation can save billions of its foreign reserves annually, which is as high as $116.2 billion just out of these commodities, by merely catering to the local demand. But the real fruits of ‘Make in India’ become more apparent if we bring international trade into perspective.For long, India has suffered because of its underdeveloped industrial infrastructure. This is despite the country’s favourable geographical location that has access to nearly all Asiatic countries and a budding market of Africa. The nation, on one hand, holds a central location between Far-Eastern and Middle-Eastern markets, and on the other, has access to European market through the Gulf of Aden, and to Australia via the South East. It has to be also noted that these trade routes are sea-based, that are more economical than land-based freight transportation. If India successfully builds its manufacturing infrastructure matching the global benchmark, the nation has the true potential to emerge as a dominant global supplier. Here, the country is also benefitted by the globally changing demographics.India has one of the youngest populations and will house a billion people aged between 15 and 64 years by 2027, essentially the world’s largest workforce. The country also has the advantage of wage arbitrage with the cost of factory labour less than $2 per hour. Technologically speaking, India’s digitization drive is increasing its overall efficiency and effectiveness in the trade with every day that passes. The nation further benefits by its ability to indigenously build ancillary systems, such as purpose-specific satellites. The nation also has one of the globally leading IT service and support infrastructures and a skilled workforce. These are some of the reasons why multinational organizations are considering the prospect of establishing their manufacturing bases in India.India has recently inaugurated the world’s largest mobile phone factory in association with the South Korean tech giant Samsung in Noida, which is expected to annually manufacture 52 million smartphone units once it achieves full production capacity. The plant will, by itself, generate 15,000 jobs locally and increase Samsung’s India-based production from 10 percent to 50 percent over the next 3 years. Our nation is, moreover, in talks with multiple internationally dominant players, including Apple, while simultaneously acting as a catalyst for its innovation-driven indigenous brands to collectively make it a global manufacturing behemoth, and thereby accomplishing the true vision of ‘Make in India’.What is the most important benefit enjoyed by Indians by establishing manufacturing factories of multinational organizations in India?a)Increase in the sales of the products of these manufacturing organizationsb)Increase in the competition faced by the domestic marketsc)Generation of jobs locallyd)Substantial decrease in imports of electronic itemse)Considerable drop in prices of important goodsCorrect answer is option 'C'. Can you explain this answer?.

Solutions for Direction: Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Read carefully.Since the beginning of this decade, India’s unemployment rate has been juggling from 3.62 percent to 3.41 percent. In 2017, the figure stood at 3.52 percent, roughly above the decade’s mean of 3.51 percent. Now, if you consider India’s population of 1.35 billion, this gives us more than 47 million, or over 4.7 crores, unemployed Indians– who are capable of contributing to the nation’s workforce– always unemployed. But can the situation change for good with the ‘Make in India’ initiative? As a matter of fact, it is an eventual possibility. Before we delve deeper into the subject, let us first understand why ‘Make in India’ is imperative, especially to our nation. India’s top-ten imports account for almost four-fifths (78.2 percent) of its purchases from other countries. Besides mineral fuels, this includes $46.9 billion (10.6 percent) worth of electrical machinery and equipment, $36 billion (8.1 percent) worth of types of machinery such as computers and electronics. Nearly 50 percent of all electronic products sold in India are imported. If India is able to successfully build its manufacturing infrastructure, the nation can save billions of its foreign reserves annually, which is as high as $116.2 billion just out of these commodities, by merely catering to the local demand. But the real fruits of ‘Make in India’ become more apparent if we bring international trade into perspective.For long, India has suffered because of its underdeveloped industrial infrastructure. This is despite the country’s favourable geographical location that has access to nearly all Asiatic countries and a budding market of Africa. The nation, on one hand, holds a central location between Far-Eastern and Middle-Eastern markets, and on the other, has access to European market through the Gulf of Aden, and to Australia via the South East. It has to be also noted that these trade routes are sea-based, that are more economical than land-based freight transportation. If India successfully builds its manufacturing infrastructure matching the global benchmark, the nation has the true potential to emerge as a dominant global supplier. Here, the country is also benefitted by the globally changing demographics.India has one of the youngest populations and will house a billion people aged between 15 and 64 years by 2027, essentially the world’s largest workforce. The country also has the advantage of wage arbitrage with the cost of factory labour less than $2 per hour. Technologically speaking, India’s digitization drive is increasing its overall efficiency and effectiveness in the trade with every day that passes. The nation further benefits by its ability to indigenously build ancillary systems, such as purpose-specific satellites. The nation also has one of the globally leading IT service and support infrastructures and a skilled workforce. These are some of the reasons why multinational organizations are considering the prospect of establishing their manufacturing bases in India.India has recently inaugurated the world’s largest mobile phone factory in association with the South Korean tech giant Samsung in Noida, which is expected to annually manufacture 52 million smartphone units once it achieves full production capacity. The plant will, by itself, generate 15,000 jobs locally and increase Samsung’s India-based production from 10 percent to 50 percent over the next 3 years. Our nation is, moreover, in talks with multiple internationally dominant players, including Apple, while simultaneously acting as a catalyst for its innovation-driven indigenous brands to collectively make it a global manufacturing behemoth, and thereby accomplishing the true vision of ‘Make in India’.What is the most important benefit enjoyed by Indians by establishing manufacturing factories of multinational organizations in India?a)Increase in the sales of the products of these manufacturing organizationsb)Increase in the competition faced by the domestic marketsc)Generation of jobs locallyd)Substantial decrease in imports of electronic itemse)Considerable drop in prices of important goodsCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Banking Exams. Download more important topics, notes, lectures and mock test series for Banking Exams Exam by signing up for free.

Here you can find the meaning of Direction: Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Read carefully.Since the beginning of this decade, India’s unemployment rate has been juggling from 3.62 percent to 3.41 percent. In 2017, the figure stood at 3.52 percent, roughly above the decade’s mean of 3.51 percent. Now, if you consider India’s population of 1.35 billion, this gives us more than 47 million, or over 4.7 crores, unemployed Indians– who are capable of contributing to the nation’s workforce– always unemployed. But can the situation change for good with the ‘Make in India’ initiative? As a matter of fact, it is an eventual possibility. Before we delve deeper into the subject, let us first understand why ‘Make in India’ is imperative, especially to our nation. India’s top-ten imports account for almost four-fifths (78.2 percent) of its purchases from other countries. Besides mineral fuels, this includes $46.9 billion (10.6 percent) worth of electrical machinery and equipment, $36 billion (8.1 percent) worth of types of machinery such as computers and electronics. Nearly 50 percent of all electronic products sold in India are imported. If India is able to successfully build its manufacturing infrastructure, the nation can save billions of its foreign reserves annually, which is as high as $116.2 billion just out of these commodities, by merely catering to the local demand. But the real fruits of ‘Make in India’ become more apparent if we bring international trade into perspective.For long, India has suffered because of its underdeveloped industrial infrastructure. This is despite the country’s favourable geographical location that has access to nearly all Asiatic countries and a budding market of Africa. The nation, on one hand, holds a central location between Far-Eastern and Middle-Eastern markets, and on the other, has access to European market through the Gulf of Aden, and to Australia via the South East. It has to be also noted that these trade routes are sea-based, that are more economical than land-based freight transportation. If India successfully builds its manufacturing infrastructure matching the global benchmark, the nation has the true potential to emerge as a dominant global supplier. Here, the country is also benefitted by the globally changing demographics.India has one of the youngest populations and will house a billion people aged between 15 and 64 years by 2027, essentially the world’s largest workforce. The country also has the advantage of wage arbitrage with the cost of factory labour less than $2 per hour. Technologically speaking, India’s digitization drive is increasing its overall efficiency and effectiveness in the trade with every day that passes. The nation further benefits by its ability to indigenously build ancillary systems, such as purpose-specific satellites. The nation also has one of the globally leading IT service and support infrastructures and a skilled workforce. These are some of the reasons why multinational organizations are considering the prospect of establishing their manufacturing bases in India.India has recently inaugurated the world’s largest mobile phone factory in association with the South Korean tech giant Samsung in Noida, which is expected to annually manufacture 52 million smartphone units once it achieves full production capacity. The plant will, by itself, generate 15,000 jobs locally and increase Samsung’s India-based production from 10 percent to 50 percent over the next 3 years. Our nation is, moreover, in talks with multiple internationally dominant players, including Apple, while simultaneously acting as a catalyst for its innovation-driven indigenous brands to collectively make it a global manufacturing behemoth, and thereby accomplishing the true vision of ‘Make in India’.What is the most important benefit enjoyed by Indians by establishing manufacturing factories of multinational organizations in India?a)Increase in the sales of the products of these manufacturing organizationsb)Increase in the competition faced by the domestic marketsc)Generation of jobs locallyd)Substantial decrease in imports of electronic itemse)Considerable drop in prices of important goodsCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Direction: Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Read carefully.Since the beginning of this decade, India’s unemployment rate has been juggling from 3.62 percent to 3.41 percent. In 2017, the figure stood at 3.52 percent, roughly above the decade’s mean of 3.51 percent. Now, if you consider India’s population of 1.35 billion, this gives us more than 47 million, or over 4.7 crores, unemployed Indians– who are capable of contributing to the nation’s workforce– always unemployed. But can the situation change for good with the ‘Make in India’ initiative? As a matter of fact, it is an eventual possibility. Before we delve deeper into the subject, let us first understand why ‘Make in India’ is imperative, especially to our nation. India’s top-ten imports account for almost four-fifths (78.2 percent) of its purchases from other countries. Besides mineral fuels, this includes $46.9 billion (10.6 percent) worth of electrical machinery and equipment, $36 billion (8.1 percent) worth of types of machinery such as computers and electronics. Nearly 50 percent of all electronic products sold in India are imported. If India is able to successfully build its manufacturing infrastructure, the nation can save billions of its foreign reserves annually, which is as high as $116.2 billion just out of these commodities, by merely catering to the local demand. But the real fruits of ‘Make in India’ become more apparent if we bring international trade into perspective.For long, India has suffered because of its underdeveloped industrial infrastructure. This is despite the country’s favourable geographical location that has access to nearly all Asiatic countries and a budding market of Africa. The nation, on one hand, holds a central location between Far-Eastern and Middle-Eastern markets, and on the other, has access to European market through the Gulf of Aden, and to Australia via the South East. It has to be also noted that these trade routes are sea-based, that are more economical than land-based freight transportation. If India successfully builds its manufacturing infrastructure matching the global benchmark, the nation has the true potential to emerge as a dominant global supplier. Here, the country is also benefitted by the globally changing demographics.India has one of the youngest populations and will house a billion people aged between 15 and 64 years by 2027, essentially the world’s largest workforce. The country also has the advantage of wage arbitrage with the cost of factory labour less than $2 per hour. Technologically speaking, India’s digitization drive is increasing its overall efficiency and effectiveness in the trade with every day that passes. The nation further benefits by its ability to indigenously build ancillary systems, such as purpose-specific satellites. The nation also has one of the globally leading IT service and support infrastructures and a skilled workforce. These are some of the reasons why multinational organizations are considering the prospect of establishing their manufacturing bases in India.India has recently inaugurated the world’s largest mobile phone factory in association with the South Korean tech giant Samsung in Noida, which is expected to annually manufacture 52 million smartphone units once it achieves full production capacity. The plant will, by itself, generate 15,000 jobs locally and increase Samsung’s India-based production from 10 percent to 50 percent over the next 3 years. Our nation is, moreover, in talks with multiple internationally dominant players, including Apple, while simultaneously acting as a catalyst for its innovation-driven indigenous brands to collectively make it a global manufacturing behemoth, and thereby accomplishing the true vision of ‘Make in India’.What is the most important benefit enjoyed by Indians by establishing manufacturing factories of multinational organizations in India?a)Increase in the sales of the products of these manufacturing organizationsb)Increase in the competition faced by the domestic marketsc)Generation of jobs locallyd)Substantial decrease in imports of electronic itemse)Considerable drop in prices of important goodsCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Direction: Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Read carefully.Since the beginning of this decade, India’s unemployment rate has been juggling from 3.62 percent to 3.41 percent. In 2017, the figure stood at 3.52 percent, roughly above the decade’s mean of 3.51 percent. Now, if you consider India’s population of 1.35 billion, this gives us more than 47 million, or over 4.7 crores, unemployed Indians– who are capable of contributing to the nation’s workforce– always unemployed. But can the situation change for good with the ‘Make in India’ initiative? As a matter of fact, it is an eventual possibility. Before we delve deeper into the subject, let us first understand why ‘Make in India’ is imperative, especially to our nation. India’s top-ten imports account for almost four-fifths (78.2 percent) of its purchases from other countries. Besides mineral fuels, this includes $46.9 billion (10.6 percent) worth of electrical machinery and equipment, $36 billion (8.1 percent) worth of types of machinery such as computers and electronics. Nearly 50 percent of all electronic products sold in India are imported. If India is able to successfully build its manufacturing infrastructure, the nation can save billions of its foreign reserves annually, which is as high as $116.2 billion just out of these commodities, by merely catering to the local demand. But the real fruits of ‘Make in India’ become more apparent if we bring international trade into perspective.For long, India has suffered because of its underdeveloped industrial infrastructure. This is despite the country’s favourable geographical location that has access to nearly all Asiatic countries and a budding market of Africa. The nation, on one hand, holds a central location between Far-Eastern and Middle-Eastern markets, and on the other, has access to European market through the Gulf of Aden, and to Australia via the South East. It has to be also noted that these trade routes are sea-based, that are more economical than land-based freight transportation. If India successfully builds its manufacturing infrastructure matching the global benchmark, the nation has the true potential to emerge as a dominant global supplier. Here, the country is also benefitted by the globally changing demographics.India has one of the youngest populations and will house a billion people aged between 15 and 64 years by 2027, essentially the world’s largest workforce. The country also has the advantage of wage arbitrage with the cost of factory labour less than $2 per hour. Technologically speaking, India’s digitization drive is increasing its overall efficiency and effectiveness in the trade with every day that passes. The nation further benefits by its ability to indigenously build ancillary systems, such as purpose-specific satellites. The nation also has one of the globally leading IT service and support infrastructures and a skilled workforce. These are some of the reasons why multinational organizations are considering the prospect of establishing their manufacturing bases in India.India has recently inaugurated the world’s largest mobile phone factory in association with the South Korean tech giant Samsung in Noida, which is expected to annually manufacture 52 million smartphone units once it achieves full production capacity. The plant will, by itself, generate 15,000 jobs locally and increase Samsung’s India-based production from 10 percent to 50 percent over the next 3 years. Our nation is, moreover, in talks with multiple internationally dominant players, including Apple, while simultaneously acting as a catalyst for its innovation-driven indigenous brands to collectively make it a global manufacturing behemoth, and thereby accomplishing the true vision of ‘Make in India’.What is the most important benefit enjoyed by Indians by establishing manufacturing factories of multinational organizations in India?a)Increase in the sales of the products of these manufacturing organizationsb)Increase in the competition faced by the domestic marketsc)Generation of jobs locallyd)Substantial decrease in imports of electronic itemse)Considerable drop in prices of important goodsCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Direction: Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Read carefully.Since the beginning of this decade, India’s unemployment rate has been juggling from 3.62 percent to 3.41 percent. In 2017, the figure stood at 3.52 percent, roughly above the decade’s mean of 3.51 percent. Now, if you consider India’s population of 1.35 billion, this gives us more than 47 million, or over 4.7 crores, unemployed Indians– who are capable of contributing to the nation’s workforce– always unemployed. But can the situation change for good with the ‘Make in India’ initiative? As a matter of fact, it is an eventual possibility. Before we delve deeper into the subject, let us first understand why ‘Make in India’ is imperative, especially to our nation. India’s top-ten imports account for almost four-fifths (78.2 percent) of its purchases from other countries. Besides mineral fuels, this includes $46.9 billion (10.6 percent) worth of electrical machinery and equipment, $36 billion (8.1 percent) worth of types of machinery such as computers and electronics. Nearly 50 percent of all electronic products sold in India are imported. If India is able to successfully build its manufacturing infrastructure, the nation can save billions of its foreign reserves annually, which is as high as $116.2 billion just out of these commodities, by merely catering to the local demand. But the real fruits of ‘Make in India’ become more apparent if we bring international trade into perspective.For long, India has suffered because of its underdeveloped industrial infrastructure. This is despite the country’s favourable geographical location that has access to nearly all Asiatic countries and a budding market of Africa. The nation, on one hand, holds a central location between Far-Eastern and Middle-Eastern markets, and on the other, has access to European market through the Gulf of Aden, and to Australia via the South East. It has to be also noted that these trade routes are sea-based, that are more economical than land-based freight transportation. If India successfully builds its manufacturing infrastructure matching the global benchmark, the nation has the true potential to emerge as a dominant global supplier. Here, the country is also benefitted by the globally changing demographics.India has one of the youngest populations and will house a billion people aged between 15 and 64 years by 2027, essentially the world’s largest workforce. The country also has the advantage of wage arbitrage with the cost of factory labour less than $2 per hour. Technologically speaking, India’s digitization drive is increasing its overall efficiency and effectiveness in the trade with every day that passes. The nation further benefits by its ability to indigenously build ancillary systems, such as purpose-specific satellites. The nation also has one of the globally leading IT service and support infrastructures and a skilled workforce. These are some of the reasons why multinational organizations are considering the prospect of establishing their manufacturing bases in India.India has recently inaugurated the world’s largest mobile phone factory in association with the South Korean tech giant Samsung in Noida, which is expected to annually manufacture 52 million smartphone units once it achieves full production capacity. The plant will, by itself, generate 15,000 jobs locally and increase Samsung’s India-based production from 10 percent to 50 percent over the next 3 years. Our nation is, moreover, in talks with multiple internationally dominant players, including Apple, while simultaneously acting as a catalyst for its innovation-driven indigenous brands to collectively make it a global manufacturing behemoth, and thereby accomplishing the true vision of ‘Make in India’.What is the most important benefit enjoyed by Indians by establishing manufacturing factories of multinational organizations in India?a)Increase in the sales of the products of these manufacturing organizationsb)Increase in the competition faced by the domestic marketsc)Generation of jobs locallyd)Substantial decrease in imports of electronic itemse)Considerable drop in prices of important goodsCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Direction: Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Read carefully.Since the beginning of this decade, India’s unemployment rate has been juggling from 3.62 percent to 3.41 percent. In 2017, the figure stood at 3.52 percent, roughly above the decade’s mean of 3.51 percent. Now, if you consider India’s population of 1.35 billion, this gives us more than 47 million, or over 4.7 crores, unemployed Indians– who are capable of contributing to the nation’s workforce– always unemployed. But can the situation change for good with the ‘Make in India’ initiative? As a matter of fact, it is an eventual possibility. Before we delve deeper into the subject, let us first understand why ‘Make in India’ is imperative, especially to our nation. India’s top-ten imports account for almost four-fifths (78.2 percent) of its purchases from other countries. Besides mineral fuels, this includes $46.9 billion (10.6 percent) worth of electrical machinery and equipment, $36 billion (8.1 percent) worth of types of machinery such as computers and electronics. Nearly 50 percent of all electronic products sold in India are imported. If India is able to successfully build its manufacturing infrastructure, the nation can save billions of its foreign reserves annually, which is as high as $116.2 billion just out of these commodities, by merely catering to the local demand. But the real fruits of ‘Make in India’ become more apparent if we bring international trade into perspective.For long, India has suffered because of its underdeveloped industrial infrastructure. This is despite the country’s favourable geographical location that has access to nearly all Asiatic countries and a budding market of Africa. The nation, on one hand, holds a central location between Far-Eastern and Middle-Eastern markets, and on the other, has access to European market through the Gulf of Aden, and to Australia via the South East. It has to be also noted that these trade routes are sea-based, that are more economical than land-based freight transportation. If India successfully builds its manufacturing infrastructure matching the global benchmark, the nation has the true potential to emerge as a dominant global supplier. Here, the country is also benefitted by the globally changing demographics.India has one of the youngest populations and will house a billion people aged between 15 and 64 years by 2027, essentially the world’s largest workforce. The country also has the advantage of wage arbitrage with the cost of factory labour less than $2 per hour. Technologically speaking, India’s digitization drive is increasing its overall efficiency and effectiveness in the trade with every day that passes. The nation further benefits by its ability to indigenously build ancillary systems, such as purpose-specific satellites. The nation also has one of the globally leading IT service and support infrastructures and a skilled workforce. These are some of the reasons why multinational organizations are considering the prospect of establishing their manufacturing bases in India.India has recently inaugurated the world’s largest mobile phone factory in association with the South Korean tech giant Samsung in Noida, which is expected to annually manufacture 52 million smartphone units once it achieves full production capacity. The plant will, by itself, generate 15,000 jobs locally and increase Samsung’s India-based production from 10 percent to 50 percent over the next 3 years. Our nation is, moreover, in talks with multiple internationally dominant players, including Apple, while simultaneously acting as a catalyst for its innovation-driven indigenous brands to collectively make it a global manufacturing behemoth, and thereby accomplishing the true vision of ‘Make in India’.What is the most important benefit enjoyed by Indians by establishing manufacturing factories of multinational organizations in India?a)Increase in the sales of the products of these manufacturing organizationsb)Increase in the competition faced by the domestic marketsc)Generation of jobs locallyd)Substantial decrease in imports of electronic itemse)Considerable drop in prices of important goodsCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice Banking Exams tests.