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Question

'Globalisation of Indian Economy' means.


A
Stepping up external borrowings
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B
Establishing Indian business units abroad
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C
Having minimum possible restrictions on economic relations with other countries
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D
Giving up programmes of import substitution
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Solution

The correct option is C Having minimum possible restrictions on economic relations with other countries
Globalization means the speedup of movements and exchanges (of human beings, goods, and services, capital, technologies or cultural practices) all over the planet. One of the effects of globalization is that it promotes and increases interactions between different regions and populations around the globe. Reasons for globalisation. There are several key factors which have influenced the process of globalisation: Improvements in transportation - larger cargo ships mean that the cost of transporting goods between countries has decreased. ... Transport improvements also mean that goods and people can travel more quickly. globalization is the process by which people and goods move easily across borders. Principally, it's an economic concept – the integration of markets, trade and investments with few barriers to slow the flow of products and services between nations.

Business Environment, Ethics and Management

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