Indian Economic Reforms

India’s economic reforms, initiated in 1991, aimed to modernize the economy by opening markets to global trade and investment, reducing government control, and encouraging private enterprise. These reforms included liberalizing industries, deregulating certain sectors, and improving financial systems. The goal was to boost growth, employment, and technological progress, making India more competitive globally. Since then, the reforms have significantly increased economic activity, foreign investment, and standards of living, positioning India as one of the world’s major emerging economies.