The degree of openness of the Indian economy crossed the 50 mark most likely in which of these years...........

Economic Affairs Growth and Indicators

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The degree of openness of the Indian economy crossed the 50% mark most likely in which of these years?

1971, India-Pakistan war year

1991, the economic reform year

2004-05, start of rapid economic growth

2014-15, consolidation of economic growth of past decade

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Explanation:

overall openness of the economy reflected bytotal trade including services as a percentage of GDP shows ahigher degree of openness at 50% in 2014-15 compared to 38%in 2004-05. So, only D is correct.
Services exports have been a dynamic element of India’strade and globalization in recent years and this opennesscan be attributed to the same. India’s services export grew from 16.8 billion US$ in 2001to 155.6 billion US $ in 2014 which constitutes 7.5% of theGDP making the country the 8th largest services exporterin the world.