What was the aim of " Globalisation " policies in the year 1991, when India encountered a huge economic crisis?
Answer & explanation
Correct answer: option 1
The correct answer is option1: Transforming world towards greater interdependence and integration
Although globalisation is generally understood to mean integration of the economy of the country with the world economy, it is a complex phenomenon. It is an outcome of the set of various policies that are aimed at transforming the world towards greater interdependence and integration. It involves creation of networks and activities transcending economic, social and geographical boundaries.