Q.3 Examine the ways in which economic reforms of 1991 shaped the Indian industries. (15 Marks)

Mentor’s comment-
  • https://indianexpress.com/article/opinion/columns/what-changed-after-the-economic-tsunami-that-hit-india-in-1991-7440423/
  • In the intro, mention the changes brought about in the 1991 economic reforms.
  • In the body mention effects such as centrality to consumers which resulted in increasing demand, increased competition to Indian industries resulting in increased productivity, give a boost to aspiration of the industry which resulted in a boom in IT industry led by TCS, Wipro and Infosys, increase in entrepreneurship, freeing up of infrastructure sector, improvement in corporate governance etc.
  • Conclude by mentioning that over the last 30 years, the Indian industry has expanded its global reach. Its products and services are internationally competitive, matching the best. The period from 1991-2021 was transformational.
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1 year ago