India’s Economic Reforms

India's economic reforms, initiated in 1991, aimed to liberalize the economy by reducing government control and encouraging private enterprise. Key changes included opening markets to foreign investments, deregulating industries, and privatizing state-owned businesses. These reforms boosted economic growth, created jobs, and integrated India into the global economy. They transformed the country from a closed, centrally-planned system to a more market-oriented economy, leading to increased consumer choices and higher living standards for many. However, challenges like income inequality and infrastructural deficits remain.