ICSE Class 9 Answered
One of the major role of Public Enterprises in the Indian Economy is EXPORT PROMOTION AND IMPORT SUBSTITUTION. can anybody please give me some important points on this topic. (Sentence written in capital letters)
Asked by nishabr7 | 25 Sep, 2018, 07:28: PM
Expert Answer
Role of Public Enterprises in the Indian Economy- Export promotion and import substitution:
Public sector enterprises have promoted India’s export to a great extent such as the state trading corporations, Bharat electronics Ltd., Mineral and metals trading corporation. This resulted in increase in foreign exchange earnings.
Enterprises such as Oil and natural gas commission, Indian oil corporation Ltd. and Indian drugs and pharmaceuticals Ltd. engaged in production of goods which were formerly imported and enabled to save foreign exchange. This led to growth of import substitution.
Answered by Tharageswari S | 26 Sep, 2018, 10:10: AM
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