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mention any four major objective of the new industrial policy, 1991 of India. describe the role of globalization in achieving these objectives.
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mention any four major objective of the new industrial policy, 1991 of...
Major objectives of the New Industrial Policy 1991 :-
i. To build on the gains already made,
ii. Correct the distortions or weakness that have crept in.
iii. Maintain a sustained growth in productivity.
iv. Gainful employment and attain international competitiveness.
Role of Globalisation:-
(1) opening of the economy to foreign direct investment by providing facilities to foreign companies to invest in different fields of economies activity in India
(2) removing restrictions and obstacles to the entry of multinational companies in India.
(3) allowing Indian companies to enter into foreign collaboration in India and also encouraging them to set up joint ventures abroad.
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mention any four major objective of the new industrial policy, 1991 of...
Major Objectives of the New Industrial Policy, 1991
The New Industrial Policy of 1991 was a significant turning point in India's economic landscape. Here are four major objectives:
Role of Globalization in Achieving These Objectives
Globalization played a crucial role in realizing the objectives of the New Industrial Policy:
In summary, the New Industrial Policy aimed to create a liberalized, competitive industrial environment, and globalization was essential in facilitating these objectives, transforming India into a more dynamic player in the global economy.
The New Industrial Policy of 1991 was a significant turning point in India's economic landscape. Here are four major objectives:
- Promotion of Liberalization: To reduce the role of the government in the industrial sector, allowing market forces to dictate production and investment decisions.
- Encouragement of Private Sector: To foster a conducive environment for private sector participation, enhancing efficiency and competition.
- Attracting Foreign Direct Investment (FDI): To open up the economy for foreign investments, bringing in capital, technology, and expertise.
- Export Promotion: To boost the export sector, making Indian industries globally competitive and integrating them into the global market.
Role of Globalization in Achieving These Objectives
Globalization played a crucial role in realizing the objectives of the New Industrial Policy:
- Market Access: Globalization facilitated access to international markets, enabling Indian companies to export their products and services effectively.
- Technology Transfer: Foreign investments brought advanced technology and management practices, enhancing the productivity of Indian industries.
- Increased Competition: Opening up the market led to increased competition, prompting Indian industries to innovate and improve quality.
- Integration into Global Supply Chains: Indian firms became part of global supply chains, leading to improved standards and practices in production.
In summary, the New Industrial Policy aimed to create a liberalized, competitive industrial environment, and globalization was essential in facilitating these objectives, transforming India into a more dynamic player in the global economy.
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mention any four major objective of the new industrial policy, 1991 of India. describe the role of globalization in achieving these objectives. Related: Chapter Notes - Human Geography Nature And Scope, Class 12, Geography
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mention any four major objective of the new industrial policy, 1991 of India. describe the role of globalization in achieving these objectives. Related: Chapter Notes - Human Geography Nature And Scope, Class 12, Geography for Humanities/Arts 2024 is part of Humanities/Arts preparation. The Question and answers have been prepared according to the Humanities/Arts exam syllabus. Information about mention any four major objective of the new industrial policy, 1991 of India. describe the role of globalization in achieving these objectives. Related: Chapter Notes - Human Geography Nature And Scope, Class 12, Geography covers all topics & solutions for Humanities/Arts 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for mention any four major objective of the new industrial policy, 1991 of India. describe the role of globalization in achieving these objectives. Related: Chapter Notes - Human Geography Nature And Scope, Class 12, Geography.
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