how was the licensing policy missused by industrial houses?
Dear Archana,
The license policy was misused by the big industrialists. It was found that often the industrialists obtained licenses not for starting a new firm but in order to prevent the competitive firms from entering the market. Moreover, the licensing system was inefficient and corrupted. Huge time and effort of the industrialists was lost in obtaining the licenses.
The license policy was misused by the big industrialists. It was found that often the industrialists obtained licenses not for starting a new firm but in order to prevent the competitive firms from entering the market. Moreover, the licensing system was inefficient and corrupted. Huge time and effort of the industrialists was lost in obtaining the licenses.