Which of the following is a feature of globalisation?

The correct option is Liberalisation of import licensing.

Understanding Globalisation:
Globalisation refers to the integration of a country's economy with the global economy. It involves the free movement of goods, services, capital, technology, and labor across international borders.

Key Features of Globalisation:

1. Liberalisation of Import Licensing: Removing or easing tariffs, quotas, and licensing restrictions on imported goods allows foreign products to enter the domestic market smoothly, encouraging international trade.

2. Foreign Direct Investment (FDI): Opening up sectors for foreign capital and investment.

3. Reduction of Trade Barriers: Lowering import duties to promote global market competitiveness.

Why Other Options Are Incorrect:

• Restrictions on expansion of public sector: This is primarily related to domestic economic policy and privatisation, not specifically a feature defining globalisation.

• Disinvestment: Disinvestment refers to selling government stake in public sector undertakings (PSUs), which is a key component of privatisation.

• Self-reliance: Emphasizing self-reliance focuses on reducing dependence on foreign trade (often linked to import substitution policies), which is opposite to the concept of global integration.

Hence, the removal and easing of trade controls, such as the Liberalisation of import licensing, directly enables global economic integration, making it a prominent feature of globalisation.