In many ways, it was a major political change, namely, the collapse of the erstwhile
socialist world that hastened globalisation. And also gave a specific economic
and political approach to the economic policies that underpin globalisation.
These changes are often termed neoliberal economic measures. We have
already seen what concrete steps the liberalisation policy took in India. Broadly
these policies reflect a political vision of free enterprise which believes that a
free reign to market forces will be both efficient and fair
"India played a central role in the formation of South Asian Regional Conference (SARC)." Select the most appropriate option from the following which explains formation of SARC.
Answer & explanation
Correct answer: option 1
A significant political development which is accompanying
globalisation is the growth of international and regional mechanisms for political
collaboration. The European Union (EU), the Association of South East Asian
Nations (ASEAN), South Asian Regional Conference (SARC) and more recently
South Asian Federation of Trade Association (SAFTA) are just some of the
examples that indicate the greater role of regional associations.