Global competitiveness of Indian industries: Opportunities and Risks
Summary :
Table of Contents
- Introduction
- Understanding the concept of global competitiveness
- The economic system of suppliers
- The turning point for India Inc
- Conclusion
Abstract
Since independence India has traveled the path of moving from a controlled economy to a liberalized economy. When India achieved independence in Aug 1947, one of the main objectives of planners was rapid industrialization and economic development of our country. But during that time, the conditions were not favorable for the development of industries. India was facing several hurdles in this sector due to lack of various resources and management of vital resources. We adopted mixed economic system with socialistic orientation for the development of various industries. After forty years of independence it was realized that public sectors are not that much efficient and are incurring losses. It was felt that government control and regulation like industrial licensing, restrictions of foreign investment and foreign technology have retarded the growth of private sector.
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