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Sia ? 4 years, 2 months ago (6945213)
The two impacts of government policy changes on business and industry are:
- Increasing competition: As a result of changes in the rules of industrial licensing, entry of foreign firms creates competition for Indian firms, especially in service industries like telecommunication, airlines, banking, insurance, etc which were earlier placed in the public sector.
- More demanding customers: Government policies leading to economic liberalisation allow consumers to become well-informed, increase their purchasing power (through rising incomes) and change their lifestyle, which makes them more demanding about quality and value-driven products/services.
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Midhat Iqbal 4 years, 4 months ago (11594035)
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