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
Removing barriers or restrictions on business and trade set by the government is called as ______.
Which of the following is a ‘barrier’ to foreign trade?
Investment means spending on:
Which of the following factors has not facilitated globalisation?
Information and communication technology has played a major role in spreading out:
Tax on imports is an example of:
The Indian government, after independence, had put barriers to:
Examine the role of Information Technology in stimulating the process of globalization.
"Liberalisation of foreign trade and foreign investment policy have shown far reaching changes in India." Support the statement with suitable arguments.
How is information technology connected with globalisation? Explain.
