-
Essay / Essay on Characteristics of Globalization - 2006
In fact, this measure was taken in order to resolve the balance of payments crisis. Divestment β ββIn order to facilitate the process of globalization, privatization and liberalization policies are evolving gradually. Under the privatization program, most public sector enterprises were sold to the private sector. Dismantling the industrial licensing regime: Currently, only six industries are mainly subject to compulsory licensing; on accounts of environmental safety measures and strategic considerations. A significantly modified localization policy, in line with the liberalized licensing policy, is in place. No industrial approval is required from the government for sites not less than 25 km from the outskirts of towns with more than one population.