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Question : Which of the following deals with the process of simplification of import - export?

Option 1: Liberalisation 

Option 2: Privatisation 

Option 3: Globalisation 

Option 4: None of the above


Team Careers360 12th Jan, 2024
Answer (1)
Team Careers360 15th Jan, 2024

Correct Answer: Liberalisation 


Solution : Liberalisation refers to end of licence, quota and many more restrictions and controls which were put on industries. Indian companies got liberalisation in the following ways:
1. Abolition of licence except in few.
2. No restriction on expansion or contraction of business activities
3. Liberalisation in import and export.
Hence, option 1 is the correct answer.

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