Liberalization refers to relaxing laws that are restrictive of either trade with other economies or in social terms. So, the Group Discussion topics on Liberalization
can be related to trade, policies, social issues, laws etc.
A social angle to the GD on Liberalization can even be from our changing perspective of divorce, abortion, homosexuality, same sex marriage, inter-faith marriages, etc.
Liberalization of economy happened in India years back in 1991 to invite private and foreign investments. Social liberalization also happened and is still progressing by small means but it will take years before India or most of the progressive nations reach there.
Here are some facts and figures to help you face group discussions related to Liberalization
. Also, find some general as well as recent topics related to the subject.
Some facts about Liberalization:
- India’s annual average growth rate from 1990 - 2010 has been 6.6 % which is approximately double than pre reforms era.
- Share of agriculture in domestic economy has declined to about 15%.
- Before 1991, foreign investment was negligible. The first year of reform saw a total foreign investment of only $74 million.
- In 2015, India received $63 billion and replaced China as the top FDI destination.
- Asia's oldest stock market Sensex took the biggest leap during the post-liberalization era with the number of companies listed on BSE doubling to 5,835 from just 2,556.
- From TCS, Jet Airways, DLF, Coal India to Reliance Power, many big IPOs made it to Street post liberalization.
- Globally, India is at 9th position in terms of market capitalization of listed companies.
Group discussion topics on Liberalization:
1. Pros and cons of economic liberalization of India.
2. Agreeable and Disagreeable views of social liberals.
3. Liberal socialism or Social liberalism? Which would you prefer to stand for?
4. Why do liberals loathe Donald Trump?
5. Did liberalization hurt Indian agricultural growth the worst?
6. Is liberalization a threat to India’s environment and natural resources?
7. Regulation versus liberalization - which would be beneficial for India?
8. The pros and cons of liberalization on Indian politics
9. Will liberalization of the aviation sector be beneficial for India?
10. Democratic or Liberal - which approach will be better to bring social reforms in India?
11. Accept liberalism in societal reforms along with economic reforms for true growth of the nation.
12. Is economic liberalization responsible for jobless growth in India?
13. Liberalism versus neo-liberalism
Some quotes that can be used Group Discussion on Liberalization:"Protectionism does not produce wealth, and free trade and economic openness are ultimately in everyone’s interest"
- Thomas Piketty, Capital in the Twenty-First Century
"Trade liberalization can be contagious, and the opening of markets regionally can spark progress multilaterally as well."
- Roberto Azevedo
"With Liberalization, Indian industry gained international exposure because of which it became imperative for companies to rework their strategies to become globally competitive."
- Baba Kalyani
Pros of Liberalization:1. More foreign investments:
Foreign companies opening up trade with India only became possible after Liberalization and have helped in the economic growth of the nation.
2. Economic growth:
GDP growth post Liberalization has been evident right after 1991. It might have hit lows at times but has seen certain growth every year.
3. Technological growth:
We have to accept that the technological growth is the product of Liberalization of economy.
4. Flow of knowledge and innovation:
Liberalization opened doors for exchange of knowledge and ideas between nations.
Cons of Liberalization:1. Jobless economy:
Growth of industries but with lesser jobs; more imports and less manufacturing in the own country.
2. Loss to Domestic units:
Agriculture and farmers have suffered the most since Liberalization hit India in 1991.
3. Unequal development:
Not all sectors benefited equally from Liberalization which has led to unequal distribution of wealth.
4. Foreign debt increase:
More investment has sadly led to more foreign debt piling up on the nation.
So, you see, if you just get the topic "Liberalization" for your GD, you can think as liberally as you want to. And, the more liberally you think, the higher will be the chance of scoring better.
We hope that you find this GD guide on Liberalization
useful in preparing yourself for entrance exams and placements.