Shifting focus from the socialistic pattern of economy to more market oriented one was the biggest news in the year 1991. Globalization, liberalization and free economy are a few words which started their usage in India after Manmohan Singh, as the finance minister, opened up the economy by lowering easing of many respective practices. Being the signatory of the IMF and dependent on its aids, India had to open up its economy by reducing tariff rates. The is opened the doors for foreign players to invest in India and also allowed foreign technology to be used in the Indian industry. The e present growth rate of more than 7% is the result of such bold decisions.
For complete IIPM article click here
Source:- IIPM Editorial, 2006
For complete IIPM article click here
Source:- IIPM Editorial, 2006
