India case study Business & Marketing Essay Research Paper

India’s Case Study
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India’s Case Study
In 1991, India’s economic fortunes took an upward trajectory when it adopted new economic policies as was proposed by the International Banks. These agencies needed India to loosen restrictions on trade carried out by the private sectors and between itself and other nations. India agreed to the conditions of lending agencies and established New Economic Policies that comprised of multiple reforms. These reforms can be grouped into two: the structural reforms and the stabilization measures.
There were short term stabilization measures that were adopted to rectify the inherent weaknesses that developed in the BOP. Also, there were long term structural reforms that were categorized as liberalization, privatization, and globalization (LPG). The objective of liberalization was to stop the restrictions that inhibited growth and development in India. Competition among domestic industries, foreign trade, and foreign capital and technology increases. In addition, India expa...