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Lecture 06: New Economic Policy, LPG Framework
The EPRG framework and the stages of internationalization
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Ghoshal, a very known
Indian economist
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Bartlett and Ghoshal method indicates that
strategic options for businesses wanting to manage their international
operations are based on two pressures
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so when there is high pressure global integration and high
pressure local responsiveness
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MNcS have managerial headquarters in many countries and but they
carry out operations in the number of other host countries
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Unlike the centralized model
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MNc is a company in corporate in it is home
country, but it carries out business operations beyond that country in
many other countries
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Manmohan
Singh, former Prime Minister is considered with the father of new
economic policy of India
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New

economic policy has been towards creating a more competitive
environment
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The intention was to bring down the rate of inflation and to curve it
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India was suffering from a serious foreign
exchange crisis at that time
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This 20 years India saw a
tremendous a tremendous growth right!
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The
Dereservation of industries of the public sector
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third privatisation of public
sector enterprise
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Some of the major aspects of liberalization that happened in that time was,
first we start with the abolition of the licensing
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The third point
was relaxation of the locational restrictions
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the industrial policy of 91 modernized
the MRtP Act, which was modernized
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foreign
investment promotion Board FiPB was setup to speed an approval for

foreign investment proposals
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there was a growth in
GDP and increased consumption and new life styles
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There
was change in the Indian market and the consumption adoption of new
lifestyle happened
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In fact competition grew healthy
competition grew and increment in the foreign investors
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so, what are
the objective of privatization
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private
enterprises aims at maximizing profits and ignoring the needs of the
economy
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Some private sectors lacked
experience and expertise in facing foreign competition
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India signed many agreements with a wto the
world Trade organization, affirming it is commitment to liberalize trades
such as trips trade related intellectual property
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Some of the positive
effects are free flow of capital, spread of production facilities, balanced
development of the world economy
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understood,, but there are limitations and

there are adverse effects Also
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Very slowly they are moving towards it right!

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