According to the passage, what is economic liberalisation?

Directions:  Read the passage and answer the question that follows.

Competition has been intensifying among many countries that participate in the global economy. This competition has been growing since the early 1990’s and is due to many factors. Most significant is economic liberalisation that is pursued by many developing countries and socialistic countries as well as the revolution in information and communication technology. Developing countries with growing economies have been greatly aided by the removal of regulatory controls for industries. This is especially the case when it comes to foreign investment. Another significant factor was the formulation of the World Trade Organisation which resulted in the removal of both quantitative and non-quantitative restrictions for foreign trade. With the spread of the information and communication technology (ICT) revolution, a new era for telecommunications has begun. This has lead to the spreading of faster communication between people and their organisations. In many cases, this communication is instant. All these factors have led to the intensifying of global economic competition.
However, the need to sustain this competitiveness has been a constant concern for policy makers, industrialists and law makers in all industrialised countries. Furthermore, one major concern has been about how to enhance and achieve this competitiveness. This is a plight which India currently faces. Competitiveness must not only be achieved, but sustained, and this is in respect to the whole economy and not individual sectors alone. In India, the manufacturing sector has always been strong in this regard. This is because manufactured products, particularly those which are focused on technology, assist and encourage the enhancement of competitiveness.  This not only happens within the manufacturing sectors, but it also influences the agricultural and service sectors.