Economic liberalisation in India and Globalization

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Difference between Economic liberalisation in India and Globalization

Economic liberalisation in India vs. Globalization

The economic liberalisation in India refers to the economic liberalisation, initiated in 1991, of the country's economic policies, with the goal of making the economy more market and service-oriented and expanding the role of private and foreign investment. Globalization or globalisation is the process of interaction and integration between people, companies, and governments worldwide.

Agricultural subsidy

An agricultural subsidy is a governmental subsidy paid to agribusinesses, agricultural organizations and farms to supplement their income, manage the supply of agricultural commodities, and influence the cost and supply of such commodities.

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Business process outsourcing

Business process outsourcing (BPO) is defined as a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party service provider.

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China

China, officially the People's Republic of China (PRC), is a unitary one-party sovereign state in East Asia and the world's most populous country, with a population of around /1e9 round 3 billion.

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Foreign direct investment

A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country.

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Gross domestic product

Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly) of time.

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India

India (IAST), also called the Republic of India (IAST), is a country in South Asia.

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Liberalization

Liberalization (or liberalisation) is a general term for any process whereby a state lifts restrictions on some private individual activities.

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OECD

The Organisation for Economic Co-operation and Development (OECD; Organisation de coopération et de développement économiques, OCDE) is an intergovernmental economic organisation with 35 member countries, founded in 1961 to stimulate economic progress and world trade.

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Portfolio investment

Portfolio investments are investments in the form of a group (portfolio) of assets, including transactions in equity securities, such as common stock, and debt securities, such as banknotes, bonds, and debentures.

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Protectionism

Protectionism is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations.

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Telecommunication

Telecommunication is the transmission of signs, signals, messages, words, writings, images and sounds or information of any nature by wire, radio, optical or other electromagnetic systems.

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