Question

what is liberalisation ? describe any 4 affects of it in Indian economy

Answer 1

Liberalisation means the opening of the country for foreign investments and capitals. Trade barriers are often used  by countries to protect the domestic industries from the products of foreign land. usually countries resort to impose Licenses, Import quotas or Voluntary export restraints to protect local markets. However after liberalization organizations like the WTO attempted to reduce production and consumption distortions created by tariffs. Free trade benefits consumers through increased choice and reduced prices. On the other hand free flow capital ensures that any country can make investments in the alien land.

Impacts:

Increase in the foreign trade

Increase in foreign investment

Exchange of technology between countries

Better means of communication have developed alongside globalisation.

Best Regards

Mohammed Fadil

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