India's economic reforms began in

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India's economic reforms began in 1991. In that year, India faced a balance of payments crisis and was on the verge of defaulting on its loans. As a result, the government was forced to initiate a program of economic liberalization, which involved reducing government regulations, opening up the economy to foreign investment, and deregulating markets. This program was a major turning point in India's economic history and led to significant growth over the following decades.

India's Economic Reforms Began in