Which of the following is NOT an objective of liberalization of trade and investment regime initiated in India as a part of NEP of 1991?
Answer & explanation
Correct answer: option 3
Trade and Investment Policy Reforms: Liberalisation of trade and investment regime was initiated to increase international competitiveness of industrial production and also foreign investments and technology into the economy. The aim was also to promote the efficiency of local industries and adoption of modern technologies.
Determination of foreign exchange rate by market was a part of Foreign Exchange Reforms and NOT Trade and Investment Policy Reforms.