Sections of Indian industry (like software and information technology) have tremendously done well at the global level. Which factor has contributed for its development?

Liberalisation

The correct answer is Option (3) → Liberalisation

Liberalisation refers to the process of reducing government restrictions and allowing greater participation of private enterprises in the economy. In India, economic liberalisation that began in the 1990s led to increased foreign investment, access to international markets, and the growth of the private sector, particularly in industries like software and IT. This opened up opportunities for innovation, skill development, and global competitiveness, significantly contributing to the success of the IT sector.