The document discusses the significant economic reforms in India that began in 1991, marking a transformative period after a severe economic crisis characterized by high inflation and low growth. The reforms implemented by the government led to increased foreign investment, GDP growth, and the emergence of new industries, positioning India as a global economic power. However, challenges like income inequality and criticisms regarding the inclusiveness of the reforms remain prevalent.

1. BUSINESS ENVIRONMENT
PRESENTATION MADE BY:
1.TANISHA GANDHI
2. ARNAV MALHOTRA
How India's economy was reformed

2. Introduction
The battle of 1991 was a turning point in
India's economic history. Before this, the
country was facing severe economic
challenges such as high inflation, low
growth, and a balance of payments crisis.
However, with the introduction of
economic reforms in 1991, India started
its journey towards becoming a global
economic power.

3. The Reforms
In response to the crisis, the Indian
government implemented a series of
economic reforms in 1991.These included
liberalization of trade and investment policies,
devaluation of the rupee, and reduction of
import tariffs.
These reforms led to an increase in foreign
investment, greater competition, and
improved productivity, which helped to boost
economic growth and stability.

4. Impact on the Economy
The economic reforms of 1991 had a
significant impact on India's economy.
The country saw a rise in GDP growth,
increased foreign investment, and a
reduction in poverty rates.
The reforms also led to the emergence of
new industries such as information
technology, which helped to transform
India into a global economic power.

5. Challenges and Criticisms
Despite the success of the economic
reforms, India still faces several
challenges such as income inequality,
corruption, and bureaucratic red tape.
Critics argue that the reforms were not
inclusive enough and that they primarily
benefited the urban middle class at the
expense of the rural poor.

6. Conclusion:
In conclusion, the battle of 1991 was a
crucial moment in India's economic
history.The economic reforms introduced
during this period helped to transform
India into a global economic power.
However, there are still challenges that
need to be addressed to ensure that the
benefits of economic growth are shared
more equitably across society.