Industrial growth in India has recorded a slowdown in the period of economic reforms What are the re...........

Download Solution PDF

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:

1 and 2 only

2 and 3 only

1 and 3 only

All are correct

Explanation:

- Decreasing demand for domestic industrial products: This can impact industrial growth as consumers might prefer imported goods or there's a lack of purchasing power.

- Globalization: It introduces competition from international companies, which can challenge local industries and impact growth.

- High non-tariff barriers: These barriers limit India's access to developed markets, affecting export potential and growth opportunities for Indian industries.

- Option 4: All are correct : All three reasons contribute to the slowdown in industrial growth during the economic reform period.