7.3.3. Globalisation of Indian Economy

India embarked on the programme of globalisation in 1991. However, the seeds of globalisation were sown in the early 1980s itself with liberalisation of imports, provision of some concessions to foreign capital, and permitting MNCs to enter in some areas of the Indian economy. But globalisation of Indian economy started in full earnest after July, 1991 as an essential part of the policy of economic reforms.