question_answer

?Barriers on foreign trade and foreign investment were removed to a large extent in India since 1991.? Justify the statement.

Answer:

(i) Due to this, imports and exports could easily flow between different countries.

(ii) It allowed the local producers to compete with products at the global level, so that they could improve the quality of their product.

(iii) Global MNCs could setup their production units, they brought latest technology of production to the country.