in which year did India globalise what are the reasons which become the basis of beginning of globalisation in India
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Hey mate here is your answer
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The wake of globalization was first felt in the 1990s in India when the then finance minister, Dr Manmohan Singh initiated the economic liberalization plan. Since then, India has gradually become one of the economic giants in the world. Today, it has become one of the fastest growing economies in the world with an average growth rate of around 6-7 %. There has also been a significant rise in the per capita income and the standard of living. Poverty has also reduced by around 10 %.
The service industry has a share of around 54% of the annual Gross Domestic Product while the industrial and agricultural sectors share around 29% and 17% respectively. Due to the process of globalization, the exports have also improved significantly.
Globalization has really out a positive impact on today's economy and it is expected to develop in the years to come.
please mark me as brainliest
The wake of globalization was first felt in the 1990s in India when the then finance minister, Dr Manmohan Singh initiated the economic liberalization plan. Since then, India has gradually become one of the economic giants in the world. Today, it has become one of the fastest growing economies in the world with an average growth rate of around 6-7 %. There has also been a significant rise in the per capita income and the standard of living. Poverty has also reduced by around 10 %.
The service industry has a share of around 54% of the annual Gross Domestic Product while the industrial and agricultural sectors share around 29% and 17% respectively. Due to the process of globalization, the exports have also improved significantly.
Globalization has really out a positive impact on today's economy and it is expected to develop in the years to come.
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its 1991 i hope this help you
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