Answer:
Globalisation means integrating our economy with the world economy. The economic gap between different nations is reduced by removing all restrictions between nations on the movement of goods, services, capital, technology and labour.
Indian government through its new policy realised the need for relating the Indian economy with the world economy, so that the unrestricted exchange of capital, technology and experience between countries became possible. Steps taken in this direction included removal of restrictions on import of goods, reduction in taxes on import of goods, and encouragement to investors from abroad to invest in India.
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