Advertisements
Advertisements
Question
Why did the Indian government liberalize trade regulations in 1991?
Options
Government wanted foreign exchange equivalent to Indian Currency.
Government wanted to maintain good relations with Western Countries.
Government wanted Indian producers to compete in the World Market.
Government wanted to provide socio-economic justice to all.
Advertisements
Solution
Government wanted Indian producers to compete in the World Market.
Explanation:
In 1991, the Indian government liberalised trade regulations, allowing goods to be easily imported and exported. Foreign companies could set up factories and offices here, and Indian producers could compete with producers from all over the world.
APPEARS IN
RELATED QUESTIONS
Investment means spending on:
FDI (Foreign Direct Investment) attracted by globalisation in India belongs to the ____________.
Which of the following factors has not facilitated globalisation?
Which sector has not benefited from the policy of globalisation?
Tax on imports is an example of:
Which has played a big role in spreading globalisation?
Examine the role of Information Technology in stimulating the process of globalization.
"Technology is the vital force in the modern form of globalisation." Explain the statement with suitable examples.
"Barriers on foreign trade and foreign investment were removed to a large extent in 1991?" Analyse the statement in the context of India.
"Liberalisation of foreign trade and foreign investment policy have shown far reaching changes in India." Support the statement with suitable arguments.
