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Industrial growth in India has recorded a slowdown in the period of economic reforms. What are the reasons for this?
1. Decreasing demand of domestic industrial products 
2. Globalization
3. India still does not have the access to developed countries’ markets because of high non-tariff barriers.
Select the correct statements using the codes given below:
  • a)
    1 and 2 only
  • b)
    2 and 3 only
  • c)
    1 and 3 only 
  • d)
    All are correct
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
Industrial growth in India has recorded a slowdown in the period of ec...
This is because of decreasing demand of industrial products due to various reasons such as cheaper imports, inadequate investment in infrastructure etc. 
In a globalized world, developing countries are compelled to open up their economies to greater flow of goods and capital from developed countries and rendering their industries vulnerable to imported goods. Cheaper imports have, thus, replaced the demand for domestic goods.
Third statement is true. For e.g. U.S.A. has not removed their quota restriction on import of textiles from India and China.
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Industrial growth in India has recorded a slowdown in the period of ec...
Markets which restricts exports4. Competition from Chinese and other Asian countries5. Inadequate infrastructure6. Inefficient use of resources7. Lack of skilled labor8. Complex and time-consuming bureaucratic procedures for setting up businesses and obtaining permits9. Lack of investment in research and development10. Limited access to credit and capital.
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Industrial growth in India has recorded a slowdown in the period of economic reforms. What are the reasons for this?1. Decreasing demand of domestic industrial products2. Globalization3. India still does not have the access to developed countries’ markets because of high non-tariff barriers.Select the correct statements using the codes given below:a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)All are correctCorrect answer is option 'D'. Can you explain this answer?
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