ECONOMIC REFORMS IN INDIA •
Government of India’s liberalization and economic reforms program aims at rapid economic growth and its integration with the global economy in a harmonized manner. Telecom sector reform, therefore, was given high priority.
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The new policies have made government procedures transparent and eliminated licensing in many sectors.
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The policy measures –
encourage entrepreneurship through market friendly systems;
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facilitate easy access to foreign technology and foreign investment;
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do away with the complex pre-entry approvals.
Approvals for all foreign direct investment proposals relating to the electronics and information technology hardware manufacturing, software development and ITES Sector, are under the automatic route.