Question

How did the Indian economy transform into a liberalized economy?

Answer 1

Answer:

Specific changes include a reduction in import tariffs, deregulation of markets, reduction of taxes, and greater foreign investment. Liberalisation has been credited by its proponents for the high economic growth recorded by the country in the 1990s and 2000s. ... In 2015, India's GDP growth outpaced that of China.

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