Question

Explain any three factor responsible for the rapid transformation in market

Answer 1

1. rapid transformation of market condition depends heavily on development of transport which in the recent years have expanded locally and internationally.
2. improvement of science and technology land, water are air transport has grown manifold in the recent years. exchange of good and service between countries id called international trade
3. advancement of international trade is considered as indicator of economics growth of the country. export and import are the components of trade.

Answer 2

In India, due to rapid technological advancement, the quality of manufactured goods have improved at a very fast pace in the 21st century. So also has the service sector improved in quality by leaps and bounds. In view of this, our goods and services are today as good in quality as the best elsewhere in the world.
Today, road, rail and ocean transport in and from India is very efficient. Hence, we are very well connected within the country and with the rest of the world.
The Governments in several states of the country as well as the Union Government are regularly taking steps to expand and nurture our industrial base across multiple sectors. This has made India the second fastest growing economy in the world, after China.
The above factors are continually transforming the Indian economy in a very positive way.