Abstract—The stabilization and structural adjustment measures, initiated since July, 1991 by now commonly referred to as “Economic Reforms”(Liberalization) mark a watershed in the country’s economic policies. For almost three decades since Independence, India’s development strategy and economic policy were guided by the objectives of accelerating the growth of output and employment with social justice and equity. The emphasis was on distributive justice, regional balance and alleviation of poverty. However, the paper throws light on the impact of the reforms on the various sectors of the Indian Economy though there is ambiguity in the reforms. The aim of the paper is to argue that one cannot find a developing country that practices complete free trade. It will be shown that all developing countries use some restrictions to protect their domestic firms, and in doing so the paper will focus positive and negative influence of the Liberalization.
Index Terms—Liberalization, prosperity, Global outlook, Indicators, Free Trade
Ms. Rakhi Gupta (Senior Lecturer) Pranveer Singh Institute of Technology, Kanpur affiliated to Uttar Pradesh Technical University, Lucknow India, phone :+91-09839183940, (R) 0512-3266771,(email:email@example.com).
Dr. S.N.P Gupta(Reader), Chhatpati .Sahu .Ji .Maharaj University Kanpur (UP) India-Phone 09415511771
Divya G Chowdhry (Research Scholar) , Chhatpati Sahu Ji Maharaj University ,Kanpur(Uttar Pradesh), India
Cite: Ms Rakhi Gupta, Divya Gupta Chowdhry and S. N. P Gupta, "A relaxation of trade restrictions in an imperfectly competitive Indian economy," International Journal of Trade, Economics and Finance, vol. 1, no. 1, pp. 6-16, 2010.