Question

What are the steps taken by indian government to globalize the economy?

Answer 1

Following steps are taken by Indian government to globalise the economy

. removal of trade barriers on foreign trade and foreign investment

. in recent years SEZ (special economic zone) are being set up with world class facilities to attract foreign companion
. companies who set up production units in the SEZs do not have to pay taxes for initial 5 years

. govt has also allowed flexibility in labour laws to attract foreign investment