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Chart of the Day | Twenty years of economic reforms

Chart of the Day | Twenty years of economic reforms
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First Published: Thu, Jul 28 2011. 01 10 AM IST

Updated: Thu, Jul 28 2011. 07 35 PM IST
One of the most significant flaws in Indian economic policy before the 1991 reforms was protectionism, originally designed to help Indian industry but eventually resulting in a high-cost economy. As import tariffs fell and India embraced globalization, the importance of international trade in economic activity almost trebled, leading to a more competitive Indian economy.
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First Published: Thu, Jul 28 2011. 01 10 AM IST