Module: General Practice
Q112: Based on economic data available as of February 2026, identify the correct combination of statements regarding the MSME sector's contribution to India:
The sector contributes approximately 30 percent to India's GDP.
The sector accounts for roughly 45 percent to 48 percent of India's total exports.
The sector is the largest employer in India, surpassing Agriculture.
The sector accounts for roughly 45 percent to 48 percent of India's total exports.
The sector is the largest employer in India, surpassing Agriculture.
✅ Correct Answer: A
Correct Option: A. Concept: Economic Significance.
Data Verification (2026): GDP: The MSME sector contributes approximately 30.1 percent to India's Gross Value Added (GVA) and GDP. (Statement 1 is Correct). Exports: It contributes roughly 45 percent to 48 percent of India's total exports, acting as a major engine for foreign exchange. (Statement 2 is Correct). Employment: While it employs over 15 to 20 crore people, it is the second-largest employer.
Agriculture remains the largest employer in India. (Statement 3 is Incorrect).
Data Verification (2026): GDP: The MSME sector contributes approximately 30.1 percent to India's Gross Value Added (GVA) and GDP. (Statement 1 is Correct). Exports: It contributes roughly 45 percent to 48 percent of India's total exports, acting as a major engine for foreign exchange. (Statement 2 is Correct). Employment: While it employs over 15 to 20 crore people, it is the second-largest employer.
Agriculture remains the largest employer in India. (Statement 3 is Incorrect).