Question

The government of India should remove the trade barriers. Why?
Explain with reason

Answer 1

Answer:

In New Economic Policy in 1991, the government wished to remove these barriers because it felt that domestic producers were ready to compete with foreign industries. It felt that foreign competition would in fact improve the quality of goods produced by Indian industries.

Answer 2

hey

1. government in India should remove the trade barriers to ensure free flow of trade.
2. WTO aims to liberalize the international trade. WTO removed trade barriers .
3. Many MNC invest in developing countries and set up there plants. this makes the Indian company to compete with international companies.
4. removing trade barriers means higher standard of living and now consumers have wider choices
5. liberalization of foreign trade and investment is necessary for development