1.

Enlist the changes brought about by Globalisation and Liberalisation in the Indian industrial set up.

Answer»
  • Private companies especially foreign firms are encouraged to invest in sectors earlier reserved for the government including telecom, civil, aviation, etc. 
  • Licenses are no longer required to open industries. 
  • Foreign products are now easily available in Indian shops. 
  • Privatization of public sector or government companies. 
  • The government is trying to sell its share in several public sector companies. This process is known as disinvestment. For example Modern Foods. 
  • More and more companies are reducing the number of permanent employees and outsourcing their work. 
  • Liberalisation and privatization appears to be associated with rising income inequality.


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