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Asked by Samskriti Last Modified
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Due to fallowing reasons, the Government of India removed trade barriers
(i) India was lacing a serious/economic crisis in 1990-91 because of slow economic growth, inefficient public enterprises, high inflation and rising fiscal defecit.
(ii) The Government of India decided that the time had come for Indian producers to compete with producers around the globe.
(iii) The decision to remove trade barriers was supported by powerful international organisations like IMF, WTO, etc.
(iv) Removing barriers or restrictions set by the government is known as liberalisation.
Government of india removed trade barriers to facilitate and promote indian trade into global market. There are several export duties and import duties which are imposed by the government in order to restrict or prevent indian products from unnecessary competition. There is globalisation which gives boost to many indian industries in different countries and simultaneously dhire to competitors and rivals industrialists improve the quality of their products and the prices also remain under check. This helps global consumers to avail any products with competitively at lie price and of better quality, that's why the government of india removed trade barriers.
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In our country we had trade barriers as India was on mixed Economy policy to protect our nascent growing countries on several products like jute, cotton , tea & cofee,etc., when we reached. 1970 & 80’s .. we started exports imports were high . Resulted in big BOP problem. So. Manmohan Singh - Narasimha Rao went for porogressive removal of all trade barriers & tariffs .. we went globalisation of markets & liberalisation policies fetched hug worl markets & GDP rose double digits growth of 10 % to 12% in 1990 to 2016.. we get to produce world class products & at very low unit price .. this is made good by open economy trade with no trade barriers ..Dr K S Velmurugan Director KMCPGS Pondicherry
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