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Liberalisation has had a profound impact on the retail industry, transforming it from a predominantly unorganized and fragmented sector to a more structured, competitive, and customer-focused environment. Prior to liberalisation, retail in many economies, including India, was dominated by small, family-owned shops, kirana stores, and traditional markets, with limited access to modern supply chains, technology, and international best practices. With the liberalisation policies introduced in the 1990s, barriers to foreign investment were reduced, and private players were encouraged to enter the market, which brought in significant changes in retail formats, consumer choices, and operational efficiencies. One of ______ __________ ___ ______ __________ _____.
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