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VOL. 7, ISSUE 2 (2021)
Role of foreign direct investment in Indian economy
Authors
Shiv Shankar
Abstract
Indian economy
experienced major policy changes in 1991. The new economic reform, popularly
known as, Liberalization, Privatization and Globalization (LPG model)
aimed at making the Indian economy as fastest growing economy and globally
competitive. The series of reforms undertaken with respect to industrial
sector, trade as well In context to India, this implies opening up the economy
to foreign direct investment by providing facilities to foreign companies to
invest in different fields of economic activity in India, removing constraints
and obstacles to the entry of MNCs in India, allowing Indian companies to enter
into foreign collaborations and also encouraging them to set up joint ventures
abroad; carrying out massive import liberalization programs by switching over
from quantitative restrictions to tariffs and import duties, therefore
globalization has been identified with the policy reforms of 1991 in India as
financial sector aimed at making the economy more efficient, productive and
profitable. This research paper explains the role of FDI in Indian Economy.
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Pages:58-61
How to cite this article:
Shiv Shankar "Role of foreign direct investment in Indian economy". International Journal of Commerce and Management Research, Vol 7, Issue 2, 2021, Pages 58-61
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