Why has the industrial sector performed poorly in the reform period?
Download our app for free and get started
The industrial sector has performed poorly in the reform period because of reasons enumerated below:
- Cheaper imports have decreased the demand for domestic industrial goods.
- Globalisation created conditions for the free movement of goods and services from foreign countries that adversely affected the local industries and employment opportunities in developing countries.
- There was inadequate investment in infrastructural facilities such as power supply.
- A developing country like India still does not have the access to developed countries markets because of high non-tariff barriers.
Download our appand get started for free
Experience the future of education. Simply download our apps or reach out to us for more information. Let's shape the future of learning together!No signup needed.*
Similar Questions
- 1View SolutionExplain any four main objectives of globalisation.
- 2View SolutionWhat was the condition imposed by World Bank and International Monetary Fund for giving loan to India?
- 3View SolutionHow were the industries regulated in India before 1991?
- 4View SolutionWhat are the objectives of WTO?
- 5View SolutionThe single tax implemented from 1st July 2017 was likely to reduce prices of which kind of products? Give example of any three items which are exempted from GST and why? Give reason.
- 6View SolutionIn your opinion, what are the advantages of privatisation to the economy?
- 7View SolutionIn your opinion why did the government resort to the measure of "demonetisation"?
- 8View SolutionIndia is benefiting from liberalisation and integration of world markets. Comment on this statement in the light of outsourcing services.
- 9View SolutionExplain any four negative impacts of liberalisation and globalization.
- 10View SolutionWhat were the objectives behind Trade and Investment Policy reforms?