Geography: Manufacturing Industries · Class 10 · CBSE Social Science
Which development after economic reforms created both opportunities and greater competition for Indian industries?
Practice question from Geography: Manufacturing Industries (Class 10 · CBSE Social Science), with the correct answer and a step-by-step solution.
hard · MCQ · Q-E9CE17
Which development after economic reforms created both opportunities and greater competition for Indian industries?
- A.Liberalisation and globalisation, which increased foreign investment and access to international markets while exposing producers to global competition.Correct answer
- B.Complete abolition of all private industries and replacement by state-owned factories.
- C.A ban on imported technology and foreign investment.
- D.The complete withdrawal of Indian industries from international trade.
Solution
Liberalisation reduced restrictions on trade and investment, while globalisation connected Indian industries more closely with world markets. This brought opportunities such as foreign capital and technology but also increased competition from international producers.
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