Telecom

As is the case with several developing countries,
India also launched its market oriented economic
reforms in 1991. The country at that time was facing
twin economic crisis i.e. unmanageable balance of
payment situation and high rate of inflation. The then
Prime Minister converted this economic crisis into an
opportunity to launch massive economic reforms and
the country in 1991 initiated path breaking economic
reforms, radically departing from the economic policies
and regulatory framework, which the country had been
pursuing since independence. The country decided
to emulate the success of Japan, South Korea and
South East Asian economies by having export-oriented
and globally connected economies. The East Asian
development model had been remarkably successful in
achieving high growth rates, at the same time raising
the living standards of the people, in relatively short
period of time. India was also looking at replicating the
same results from these reforms.