Current Affairs · Economic Growth and IT Sector
A significant consequence of globalization in India has been the phenomenal growth of the IT and IT-enabled Services (ITeS) sector. This growth is primarily attributable to:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The mandatory reservation of 49 per cent of all government procurement contracts for Micro, Small, and Medium Enterprises (MSMEs) in the ITeS space.
- 2The combination of India's demographic dividend (large English-speaking, skilled workforce), time zone difference relative to Western markets, and early investments in telecom infrastructure.✓
- 3India's successful negotiation of a complete exemption from the General Agreement on Trade in Services (GATS), allowing preferential market access.
- 4The abolition of the Essential Commodities Act, 1955, which reduced regulatory oversight on service sector pricing.
Correct answer
The combination of India's demographic dividend (large English-speaking, skilled workforce), time zone difference relative to Western markets, and early investments in telecom infrastructure.
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