Since the adoption of the New economic strategy in 1991, there has been a drastic change in the Indian economy. With the arrival of liberalization, the government has regulated the private sector organizations to conduct business transactions with fewer restrictions. For developing countries, liberalisation has opened economic borders to foreign companies and investments. Earlier, Investors have to encounter difficulties to enter countries with many barriers.
These barriers included tax laws, foreign investment restrictions, accounting regulations, and legal issues. The economic liberalisation reduced all these obstacles and waived few restrictions over the control of the economy to the private sector.
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