“Barriers on foreign trade and foreign investment were removed to a large extent in India since 1991?" Justify the statement.
IT was decided to remove the barriers in 1991 because government felt, that the performance of domestic producers and quality of their products had improved a lot. It felt that the competition would improve their quality. This decision was supported by powerful international organisations.
Thus, barriers on foreign trade and foreign investment were removed to a large extent. This meant that goods could be imported and exported easily. Foreign companies could set up factories and offices in India.