The trade policy reforms aimed at _____.

dismantling quantitative restrictions on imports and exports

No worries! We‘ve got your back. Try BYJU‘S free classes today!

reduction of tariff rates

No worries! We‘ve got your back. Try BYJU‘S free classes today!

removal of licensing procedures for imports

No worries! We‘ve got your back. Try BYJU‘S free classes today!

all of the above

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is B all of the above
Liberalisation of trade and investment regime was initiated to increase international competitiveness of industrial production and also foreign investments and technology into the economy.The trade policy reforms aimed at (i) dismantling of quantitative restrictions on imports and exports (ii) reduction of tariff rates and (iii) removal of licensing procedures for imports.

Suggest Corrections

Similar questions

Q. The latest industrial policy reforms have reduced the industrial licensing requirements, removed restrictions on investment and expansion, and facilitated easy access to foreign technology and foreign direct investment.

Q. Being a member of General Agreement on Tariffs and Trade or GATT, India lifted all restrictions on international trade.

Write a brief note on trade and investment policy reforms. How did it lead to economic growth?
Or
What was the purpose of liberalisation of trade and investment in 1991?

Q. Quantitative restrictions on imports of manufactured consumer goods and agricultural products were fully removed from _____.

Q. Liberalization of trade means government has removed the tariff, subsidies and other restrictions on the flow of goods and services between _________.

Join BYJU'S Learning Program