Impact of privatisation and liberalisation on insurance industry in india
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The economic liberalisation in India refers to the changes and reforms, initiated in 1991, of the country's economic policies, with the goal of making the economy more market- and service-oriented, and expanding the role of private and foreign investment. In 2015, India's GDP growth outpaced that of China.
The primary goals of economic liberalization are the free flow of capital between nations and the efficient allocation of resources and competitive advantages. This is usually done by reducing protectionist policies such as tariffs, trade laws and other trade barriers.Privatization is the process of transferring an enterprise or industry from the public sector to the private sector. The public sector is the part of the economic system that is run by government agencies.
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