Why did the government decide to remove barriers to foreign trade and foreign competition?

4. Why did the government decide to remove barriers to foreign trade and foreign competition?

  1. Because the government wanted to earn foreign exchange.
  2. Because the government wanted to maintain good relations with countries.
  3. Because the government felt that the time had come for Indian producers to compete in the world market.
  4. None of these

Answer: C) Because the government felt that the time had come for Indian producers to compete in the world market

Explanation:

In New Economic Policy in 1991, the government decided to remove barriers because it felt that Indian producers were ready to compete in the world market. This decision was also supported by powerful international organisations.

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