India closed economy ,goverment placed large tarrifs on goods imported. Too expensive for locals. Also restricted foreign investment.
1 of 5
What happened in 1991 for the economy to sky rocket
The government liberalised countries economic policies. Reduced tariffs allow FDI . Also received 2.2 billion from the IMF exchange for changes. This increases the amount foreign trade
2 of 5
what are India's biggest imports
oil , gems , electrical goods
3 of 5
what are india's biggest exports
oil , gems, jewelley , vehicles
4 of 5
difference between import and export
import raw material , export manufactered materials, increase wealth of country
5 of 5
Other cards in this set
Card 2
Front
What happened in 1991 for the economy to sky rocket
Back
The government liberalised countries economic policies. Reduced tariffs allow FDI . Also received 2.2 billion from the IMF exchange for changes. This increases the amount foreign trade
Comments
No comments have yet been made