What is liberalisation why was liberalisation needed in india
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Liberalisation is the process of removing trade and investment barriers from imports.
Liberalisation was needed in India since:
1. 1991 onwards some far seeing changes were made in which liberalisation of trade was included. The government felt that the Indian companies and producers were ready to face international completion from MNC’s.
2. Government also felt that the competition would help the local producers increase their productivity, as they would begin to invest in the latest technology for better and faster production.
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Removing barriers are restrictions set by government is known as liberalisation .
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