Why did India adopt Globalization?
(1) To overcome the financial crisis in 1991
(2) To achieve higher rates of economic growth
(3) For investment of foreign countries
(4) To overcome the financial crisis and achieve higher rates of economic growth

4

The correct answer is option 4 - 4 ( To overcome the financial crisis and achieve higher rates of economic growth)

India adopted globalization for several reasons, but primarily to overcome a financial crisis in 1991 and to achieve higher rates of economic growth. So, the correct answer is option (4) "To overcome the financial crisis and achieve higher rates of economic growth."

In 1991, responding to a financial crisis and to the desire for higher rates of economic growth, India embarked on a programme of economic reforms that has sought increasingly to de-regulate various sectors including trade and foreign investment. While it may be too early to say how good this has been for India, the ultimate test is not high growth rates as making sure that the benefits of growth are shared so that everyone is better off.