Read the case study and answer the following.

In outsourcing, a company hires regular service from external sources, mostly from other countries, which was previously provided internally or from within the country (like legal advice, computer service, advertisement, security each provided by the respective departments of the company). As a form of economic activity, outsourcing has intensified, in recent times, because of the growth of fast modes of communication, particularly the growth of information Technology (IT). Many services such as voice based business processes, record keeping, accounting, banking are being out sourced by companies in developed countries to India. Most multinational corporations and even small companies are outsourcing their services to India where they can be availed at a cheaper cost with reasonable degree of skill and accuracy. WTO is expected to enlarge production and trade of services to ensure optimum utilisation of world resources, WTO agreements facilitate international trade through removal of tariff and non-tariff barriers and providing greater market access to all member countries.

_ _ _ _ _ _ means removing barriers and restrictions on trade and investment whereas

_ _ _ _ _ _ means integration between economies of different countries.

Liberalisation, Globalisation

The correct answer is option (4) : Liberalisation, Globalisation

• Liberalisation: This refers to reducing or eliminating government regulations and restrictions on trade and investment. It promotes freer movement of goods, services, and capital across borders.
• Globalisation: This is a broader concept that encompasses the integration of economies worldwide. It involves not just trade and investment liberalization, but also cultural exchange, technological advancements, and interconnectedness.