The structure and composition of Indian markets have changed a lot in ____ year

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Detailed Solution

The structure and composition of Indian markets have changed a lot in the year 1991.
In the Pre-Globalisation era, Indian consumers could only buy goods produced in their own country. Since 1991, the structure and composition of Indian markets have changed a lot. It is not only the domestic producers selling to Indian customers but many foreign sellers from different countries participating in this trade. While Indian consumers have better choices and quality of goods due to increased competition, small domestic producers have suffered a lot because of this intense competition from foreign producers. They could not sustain themselves in the market. This increasing trade has filled the Indian markets with various products and options.

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