SSC
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Choose the incorrect statement.
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MNCs have increased their investments in India over the past 20 years, which means investing in India has been beneficial for them.
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Globalisation and greater competition among producers-both local and foreign producers-has been of advantage to consumers, particularly the well-off sections in the urban areas.
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Government has also allowed flexibility in the labour laws to attract foreign investment.
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several of the top Indian companies have been able to drawback from the increased competition. They have invested in newer technology and production methods and raised their production standards.
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Explanation:
Detailed explanation-1: -After Independence, the Indian government had put barriers to foreign trade and foreign investment termed as ‘trade barriers’. This was considered necessary to protect the producers within the country from foreign competition.
Detailed explanation-2: -Answer: The Indian government after independence had put barriers to foreign trade and investment. This was done to protect the producers within the country from foreign competition.
There is 1 question to complete.