Question

Explain the impact of Liberalization on the Indian Economy.

Answer 1

1. The phenomenal growth by contributing $1.3 Trillion to the world GDR So the Indian economy because of the Seventh Largest among the world-leading economies.
2. Liberalization has opened up new business opportunities abroad and increased foreign direct investment.
3. Newmarket for various goods came into existence and resulted not only in urban but also in rural development.
4. It became very easy to obtain loans from banks for business expansion.
5. “Foreign Collaboration” is the latest outcome of Liberalization.
6. A number of multinational companies started operating worldwide including India.