India relaxed its policies of providing undue protection to domestic industries from foreign competition. Give reason.

India relaxed its policies of providing undue protection to domestic i

1.	India relaxed its policies of providing undue protection to domestic industries from foreign competition. Give reason.
Answer» In 1991, International Monetary Fund (IMF) declared a list of several nations who had taken enormous loans from IMF. The IMF forced those countries to globalize and upgrade the technologies and hence grow their nations. IMF also declared that until the countries did this, it would not give any further loans. India was one of those countries. Hence, India had to relax its policies of providing undue protection to domestic industries from foreign competition.