Question

Why did the Government of India remove trade barriers? Explain the reasons.

Answer 1

Answer:

In the New Economic Policy of 1991, India removed trade barriers because: ... There was also pressure of powerful international organisations like IMF, WTO, etc. to liberalise the Indian economy. • The government felt that domestic producers were ready to compete with foreign industries.

Answer 2

Explanation:

In the New Economic Policy of 1991, India removed trade barriers because: ... There was also pressure of powerful international organisations like IMF, WTO, etc. to liberalise the Indian economy. • The government felt that domestic producers were ready to compete with foreign industries.