New Economic Reforms

Dereservation of the Industrial Sector

The industrial sector of the economy has been opened up to the private sector after the New Industrial Policy of 1991.

Previously, the public sector has given reservation especially in the capital goods and key industries.

Other operators- private sector and foreign investors were not allowed in these critical industries.

Necessity: Deregulation of the industrial sector allowed private sector operation in most of the sectors except in eight selected areas including atomic energy, mining and railways.


Opening up of the Economy to Foreign Competition

Another major feature of the economic reform measure was that it has given welcome to foreign ....

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Indian Economy & Socio-economic Development