How globalization affects indian economy?
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Globalisation, in the shape of the new Industrial Policy of 1991 known as the LPG model (i.e., Liberalisation, Privatisation and Globalisation Model), proved to have substantial growth of the Indian Economy. It enables:(1) Free International Trade of Indian goods, commodities and products(2) Economic Reforms(3) Self-reliance and socialistic policies of economic development
(4) Technological Advancement and Scientific Development
(5) Increase in direct foreign investments
(6) Increase in Gross Domestic Product (GDP)
(7) Market capitalisation
(8) Rise in establishment of MNCs (Multi-national companies)(9) Increase in export and import business transactions
(10) Social and educational developmental initiatives increasing human resource development index.
(4) Technological Advancement and Scientific Development
(5) Increase in direct foreign investments
(6) Increase in Gross Domestic Product (GDP)
(7) Market capitalisation
(8) Rise in establishment of MNCs (Multi-national companies)(9) Increase in export and import business transactions
(10) Social and educational developmental initiatives increasing human resource development index.
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