Economics · Economy
What was a major direct consequence of the 1991 economic liberalization reforms in India?
- 1Re-establishment of strict import quotas and tariff walls
- 2Expansion of the IT sector and increased integration with the global economy✓
- 3An absolute closure of the domestic service sector
- 4A steep decline in Foreign Direct Investment (FDI)
Correct answer
Expansion of the IT sector and increased integration with the global economy
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