Which of the following statement about the trends observed in External Sector in India is correct ........

Economic Affairs Foreign Trade - Trends and Policy

Which of the following statement about the trends observed in External Sector in India is correct?

In the year 2017, Gems and Jewellery had the biggest share in exports from India.

In the year 2017, Capital Goods (Machinery, Base Metals, and Transport equipments) had the largest share of imports in India.

Due to declining prices of crude oil, the Current Account of India became surplus for the first time.

None of the above is correct

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Explanation:

..All the statements are incorrect.
In 2017, Major commodity groups of export having a share of 72.09% in total export basket which have shown positive growth over the corresponding month of last year are Engineering Goods (8.25%), Gems& Jewellery (6%), Petroleum Products (24.92%), RMG of all Textiles (8.06%), Organic & Inorganic Chemicals (15.34%), Rice (27.08%), Marine Products (44.58%) and Electronic Goods (8.57%)
Second is incorrect. Major commodity group of imports are Petroleum, Crude &products (29.54%), Gold (236.69%), Electronic goods (34.16%), Pearls, precious & Semi-precious stones (37.61%) and Machinery, electrical & non-electrical (6.42%).
Third statement is also incorrect i.e. Due to declining prices of crude oil, the Current Account of India became surplus for the first time.
India's current account deficit widened to USD 7.2 billion, or 1.2 percent of GDP, in the three months to September of 2017, from USD 3.4 billion, or 0.6 percent of GDP, in the same period a year earlier. The trade deficit increased to USD 32.8 billion from USD 25.6 billion a year ago with imports rising more than exports.