Question
How did liberalisation policy have an impact on the Indian markets?
Solution
(i) The process of liberalisation includes a range of politics such as the privatisation of public sector enterprises, loosening of government regulations on capital, labour and trade.
(ii) Due to liberalisation reduction in tariff and import duties was made. Now foreign goods can be imported easily.
(iii) The policy of liberalisation is mainly responsible for the globalisation of the Indian economy. This process began in the late 1980s.
(iv) The process of liberalisation and marketisation have stimulated economic growth e.g. branded goods are now available in the markets.
