Question

Enlist the changes brought about by Globalisation and Liberalisation in the Indian industrial set up.

Answer 1

Answer:

*Liberalisation

-adoption of liberal regulations and taxation systems to facilitate the import of multinational products to domestic markets

*Globalisation

- the interests and motives of the multinational companies protected.

-competition driven market came into existence.

-trans-border flow of products, services, raw materials, capital, latest technology and human resources facilitated.