Which of the following was a major benefit of globalisation for India after 1991?

Correct option is B

The correct answer is: (b) Increased access to foreign markets
Explanation:
· After the Liberalisation, Privatisation, and Globalisation (LPG) reforms in 1991, India opened up its economy.
· One major benefit was increased access to global markets, boosting exports and foreign investments.
Information Booster:
· Reforms introduced by Dr. Manmohan Singh under PM P.V. Narasimha Rao.
· 1991 crisis led to IMF bailout and economic restructuring.
· Sectors like IT, BPO, and manufacturing saw rapid growth.
· India’s export-to-GDP ratio increased significantly post-globalisation.
· FDI limits were relaxed in multiple sectors.
· WTO membership further supported market access.
Additional Information:
· Reduced foreign investment: Opposite of what happened post-1991.
· Isolation: Pre-1991 era policy.
· Decreased foreign trade: False, trade volume increased exponentially.