Question

What was the impact of the economic reforms (LPG) on the indian industries?

Answer 1

1) The new economic reform, popularly known as, Liberalization, Privatization and Globalization (LPG model) aimed at making the Indian economy as fastest growing economy and globally competitive.
2) This has resulted in entry of new companies in new areas such as insurance, aviation and telecom.
3) Indian companies have been using borrowings from foreign banks to buy foreign companies (such as TATA –Corus). The economy has become more robust and many more employment opportunities have been generated as a result of these reforms.