What are the ways in which Ravi’s small production unit was affected by rising competition?

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Chapter 4

NCERT

Class 10

Economics

Solutions

1. What are the ways in which Ravi’s small production unit was affected by rising competition?

Question:

What are the ways in which Ravi’s small production unit was affected by rising competition?

Answer:

In 1992, Ravi took a bank loan to start his company manufacturing capacitors in Hosur, an industrial town in Tamil Nadu. Within three years he was able to expand his production. The government removed restrictions on the import of capacitors in 2001 as per the WTO agreement. Now its competition has started with the brands of multinational companies. This competition forced the Indian television companies to do the co-production work for multinational companies. These companies now started importing goods from abroad at low cost. Due to this, a crisis appeared in front of Ravi's company.

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