Question

globalisation is the outcome of liberalisation and privatisation strategies, explain​

Answer 1

Explanation:

Globalisation is the outcome of the policies of liberalisation and privatisation. It means an integration of the economy of the country with the world economy. ➢ Outsourcing is an emerging business activity.

Answer 2

Globalisation is the outcome of liberalisation and privatisation strategies:

• Globalisation is the the process through which the world becomes interconnected through various types of exchanges among the nations.
• With liberalisation the following happened:

1. Setup of private sector banks was allowed which included both Indian and foreign banks.
2. Foreign investment was allowed upto 74 percent
3. Indian financial market got open for foreign investors.
4. Trade and investments were liberalised and indian industries were made open to global competition.
5. Import licensing was put to an end

• With privitisation following happened:

1. It was supposed to increase the movement of FDI inflow in the country.
2. Privitization leads to growth of capitalism and thus making domestic industries competitive at international level.

• These things led to increased interaction and trade as well as cultural exchange of domestic country with rest of the world.