Which of the following are post-liberalisation developments in India?
(A) Ikea store in Hyderabad
(B) ICICI-Lombard selling insurance
(C) HYV seeds
(D) MTV
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → (A), (B) and (D) only
(A) Ikea store in Hyderabad Correct. Liberalisation began in July 1991, with reforms in all major sectors of the economy, including trade, foreign investment and financial institutions. Ikea is a foreign furniture retailer. A store of a foreign retail company could come up only after the reforms opened Indian markets to foreign investment. Ikea opened its store in Hyderabad in 2018, long after the reforms of 1991.
(B) ICICI-Lombard selling insurance Correct. Insurance was a field the state controlled before the reforms. A private company with a foreign partner selling insurance became possible only when financial services were opened up after 1991. Private insurers such as ICICI-Lombard began selling insurance after the insurance sector was opened to private companies around 2000.
(C) HYV seeds Incorrect. High-yielding variety (HYV) seeds came with the Green Revolution of the 1960s and 1970s, a government programme of agricultural modernisation, two decades before liberalisation.
(D) MTV Correct. MTV is one of the foreign television channels, like Star, Channel V and Cartoon Network, that came to India with globalisation and now use Indian languages to win viewers.
NCERT (2025-26): “The Economic … Liberalisation of the economy meant the steady removal of the rules that regulated Indian trade and finance regulations. These measures are also described as economic reforms. What are these reforms? Since July 1991, the Indian economy has witnessed a series of reforms in all major sectors of the economy (agriculture, industry, trade, foreign investment and technology, public sector, financial institutions, etc). The basic assumption was that greater integration into the global market would be beneficial to Indian economy.…” “Homogenisation Versus Glocalisation of Culture … It is a strategy often adopted by foreign firms while dealing with local traditions in order to enhance their marketability. In India, we find that all the foreign television channels like Star, MTV, Channel V and Cartoon Network use Indian languages. Even McDonald’s sells only vegetarian and chicken products in India and not its beef products, which are popular abroad.…” “4.3 The Green Revolution and its Social Consequences … In contrast the Green Revolution of the 1960s and 1970s brought about significant changes in the areas where it took place.…” “…It was largely funded by international agencies that was based on providing high-yielding variety(HYV) or hybrid seeds along with pesticides, fertilisers, and other inputs, to farmers.…” |