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Introduction Reform: The oxford dictionary describes it as ‘Making changes in something in order to IMPROVE it’. Certainly, that is what the Modi-led-govt. would have thought while bringing in reforms in 15 sectors under the FDI Policy which include mining, defense, construction, real estate and plantation to name a few. But …

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Until 1991, India closed off foreign trade in an attempt to protect and encourage the development of its local industries. However, the lack of competition from international producers eventually led to low quality products being sold at high prices, which was detrimental to the growth of the economy. As foreign exchange …

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