Explain the major failures of Economic Reforms in industry

d.eandeconomicreform
cbse

#1

Explain the major failures of Economic Reforms in industry.This is because of decreasing demand of industrial products due to following reasons :
Cheaper imports have decreased the demand for domestic industrial goods.
(ii) Globalisation created conditions for the free movements of goods and services from foreign countries that adversely affected the local industries and employment opportunities in developing countries.
(iii) A developing country like India still does not have the access to developed countries market because of high non-tariff barriers.
(iv) There was inadequate investment in infrastructural facilities such as power supply