Question

Benefits of post liberalization in india

Answer 1

Economic liberalization have to be looked through from various angles. In an under developed economy, where people are not aware of the quality and cost of production of the goods, the manufacturers have exploited the community with low quality product and high prices. Allowing international manufacturers, to compete with the local economy have not made the situation better. We have many sub-standard imported products. The international manufacturers, have exploited the consumer’s ignorance. The government, on its part have not regulated the substandard imported products. the international manufacturers, do have many sets of qualities, for the same products. They will make high quality products for the advanced countries, and poor quality products for the under developed countries. This is still prevalent. Indian government, whether knowingly or unknowingly, have not stopped this menace.

It is not the liberalization or control that make the difference, but the quality of control and the quality of administration. Technological competence is very poor in India. Both administratively, and technologically, India is far behind many countries. Make in India have not addressed this issue.