The four major objectives of the New Industrial Policy, 1991 of India are mentioned below:
a) To build on the gains already made,
b) To correct the distortions or weakness that have crept in.
c) To maintain a sustained growth in productivity.
d) Gainful employment and attain international competitiveness.
Globalisation is the process of rapidly integrating the economy of the country with the rest of the world. Goods, services, capital, labour and resources can move freely from one nation to another. The role of globalisation in achieving these objectives are given below:
a) It had promoted a policy of open trade.
b) It has opened the Indian industries with the others.
c) It has also promoted a healthy competition in the international scenario.
d) This has also led to the innovation of better products.
e) It has also increased the level of foreign investment
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