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In which year did the companies IBM and Coca Cola shut down their operations for not being able to comply with the Foreign
Exchange Regulation Act that mandated foreign investors cannot own over 40% in Indian enterprises?
1964
1981
1956
1977
- In 1964, many global businesses were eyeing expansion into different markets, but this year isn't linked to IBM and Coca Cola's exit from India.
- By 1981, various industries worldwide were witnessing transformations, but this year doesn't correspond with the specific event you mentioned.
- 1956 was a time of post-war economic adjustments globally, yet it isn't relevant to the issue of IBM and Coca Cola's operations in India.
- 1977 is when IBM and Coca Cola decided to leave India due to the Foreign Exchange Regulation Act. This act limited foreign ownership to 40% in Indian enterprises, leading these companies to exit the market rather than comply with this restriction.
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