Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:
Which sector saw the dismantling of quantitative restrictions on imports and exports as part of trade policy reforms?
Options:
Agricultural sector
Service sector
Manufacturing sector
Financial sector
Correct Answer:
Manufacturing sector
Explanation:
Trade policy reforms aimed at promoting the competitiveness of Indian industrial production and attracting foreign investments and technology. As part of these reforms, quantitative restrictions on imports and exports were dismantled, except for hazardous and environmentally sensitive industries. This move aimed to enhance the competitive position of Indian goods in international markets.