Measures taken for globalization of the Indian economy are :
(i) Rupee was devalued by 20% in July 1990¬91. The devaluation was made to encourage exports and discourage imports earnings.
(ii) The government offered partial convertability of rupee through the budget of 1992-93. Full convertibility of rupee was aimed at encourag¬ing export earnings.
(ii) The govt, announced foreign trade policy for a period of five years is 1992-97. The sole purpose of this policy was liberalization.
(iii) In order to build up our competetive strength, customs and tarrif policies were modified to promote international trade.