Practicing Success
Globalisation means the integration of the various economies of the world leading towards the emergence of a cohesive global economy. Till 1991, the Government of India had followed a policy of strictly regulating imports in value and volume terms. These regulations were with respect to |
Prior to 1991, what was the approach of the Government of India towards imports in terms of value and volume? |
Strict regulation Complete liberalization Export promotion Voluntary restrictions |
Strict regulation |
Till 1991, the Government of India had followed a policy of strictly regulating imports in value and volume terms. Thus, prior to 1991 India was a closed economy. After 1991 new economic policy LPG, makes foreign industry to enter in India. |