Question : A consequence of economic liberalization in India was:
Option 1: Strengthening of labor unions
Option 2: Increased competition in domestic markets
Option 3: Expansion of the public sector
Option 4: Decrease in foreign direct investment
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Answer (1)
14th Jan, 2024
Correct Answer:
Increased competition in domestic markets
Solution : A consequence of economic liberalization in India was increased competition in domestic markets, as the removal of trade barriers and deregulation allowed for greater entry of foreign and private companies, challenging existing monopolies and state enterprises.
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