IMPACT OF LIBERALIZATION, PRIVATIZATION & GLOBALIZATION ON SSI
Liberalization, Privatization and Globalization started in India in July ,1991 that had changed the face of the industry. It has attracted new areas of development, foreign direct investments and new business areas which were unheard before 80's. This made Indian Economy to grow to new heights. Past 3 years Indian economy is growing at an average steady rate of 5% of per-capita income. The exports have increased.
Liberalization has made import of scarce and non-available raw materials easy. This has lead to many new openings. New entrepreneurs have started many new SSIs which otherwise was not possible due to non availability of certain raw materials and resources, liberalization helped getting them from abroad and use them. The best example for effect of liberalization is electronic and computer industries that have seen enormous growth in the past two decades.
Privatization also helped in the growth of inustries in a big way. Earlier certain products/services were produced only by the government organizations and no competition existed. With privatization it threw open to many challenging entrepreneurs to produce similar goods and service at much competitive prize and of better quality.
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