Question

Which of the following is the most apt description of India in terms of its relationship to the global economy?a. a service-driven economy bypassing b. a labor-intensive industrial revolution Chimerica runmng c. a massive balance of payments surplus with the OECD countries d. a model of growth combining open markets and authoritarian politics

Answer 1

Answer:

a service-driven economy

Explanation:

India in relation to global economy has a service-driven economy because one of the ways in which it distinguishes itself from the rest Asian economies is the performance of its service sector. While the growth of other Asian economies, have come from the performance of its manufacturing sector like that of China; that of has been from business services.

India service-driven economic development may be as a result of the fact that the nation has historically been known to be of strength in rendering services.