Nandrachal Networks and Technologies Ltd. is a leader in technology innovation in U.S.A. creating products and solutions for a connected world. It has a large Research and Development team which invented the first smart watch W-I, which besides showing the time would also monitor few health parameters like heart beat, blood pressure, etc. While in search of markets abroad, the company found that in India, the reform process was underway with the aim of accelerating the pace of economic growth. The company decided to take advantage of the fact that licensing requirements had been abolished. The company was also aware that there had been increased level of interaction and interdependence among the various nations of the world and India could be made a base for its international trade. It set up its office in Gujarat with a view to capture the Indian market. In a short span of time, the company emerged as a market leader. Success of the company attracted many other players to enter the market. Competition resulted in reduction in prices, thereby benefitting the customers.
(a) In the above paragraph, two major concepts related to government policy have been discussed.
(b) Also, explain briefly any three impacts of those concepts on Indian business and industry.
Nandrachal Networks and Technologies Ltd. is a leader in technology innovation in U.S.A. creating products and solutions for a connected world. It has a large Research and Development team which invented the first smart watch W-I, which besides showing the time would also monitor few health parameters like heart beat, blood pressure, etc. While in search of markets abroad, the company found that in India, the reform process was underway with the aim of accelerating the pace of economic growth. The company decided to take advantage of the fact that licensing requirements had been abolished. The company was also aware that there had been increased level of interaction and interdependence among the various nations of the world and India could be made a base for its international trade. It set up its office in Gujarat with a view to capture the Indian market. In a short span of time, the company emerged as a market leader. Success of the company attracted many other players to enter the market. Competition resulted in reduction in prices, thereby benefitting the customers.
(a) In the above paragraph, two major concepts related to government policy have been discussed.
(b) Also, explain briefly any three impacts of those concepts on Indian business and industry.
(a) Two major concepts related to government policy are:
(i) Liberalisation: Liberalisation means removal of unnecessary controls and restrictions on business.
(ii) Globalisation: Globalisation means integrating the various economics of the world leading towards the emergence of a cohesive global economy.
(b) Impact of these concepts on Indian business and industry: (Any three)
(i) Increasing competition
(ii) More demanding customers
(iii) Rapidly changing technological environment
(iv) Necessity for change
(v) Need for developing human resources.
(vi) Market orientation
(vii) Loss of budgetary support to the public sector.
(a) Two major concepts related to government policy are:
(i) Liberalisation: Liberalisation means removal of unnecessary controls and restrictions on business.
(ii) Globalisation: Globalisation means integrating the various economics of the world leading towards the emergence of a cohesive global economy.
(b) Impact of these concepts on Indian business and industry: (Any three)
(i) Increasing competition
(ii) More demanding customers
(iii) Rapidly changing technological environment
(iv) Necessity for change
(v) Need for developing human resources.
(vi) Market orientation
(vii) Loss of budgetary support to the public sector.
