What do you mean by liberalisation of foreign trade?

cbse
economics
globalisation-indian
cbse-class-10
cbse-class-10-social

#1

What do you mean by liberalisation of foreign trade?

Answer:

  • Removing barriers or restrictions set by the government is known as liberalisation.
  • With the liberalisation of trade, businesses are allowed to make decisions freely about what they wish to import or export.
  • The government imposes lesser restrictions than before and is therefore, said to be more liberal.