India's privatization journey has been a cornerstone of its economic reforms, aimed at enhancing efficiency and reducing the government’s financial burden. A brief chronological look at key privatization milestones: In 2000, the government divested Bharat Aluminium Company (BALCO) and Modern Food Industries , marking the start of its privatization wave. BALCO was sold to Vedanta Limited, while Modern Food Industries became a part of Hindustan Unilever. The following year, CMC Limited joined the Tata fold, eventually merging with TCS in 2016. Several other entities, including Lagan Engineering , Hindustan Zinc Limited , HTL Limited , and Paradeep Phosphates Limited , transitioned to private ownership in 2001. In 2002, Videsh Sanchar Nigam Limited and ICICI Bank were privatized, with ICICI Ltd. merging into ICICI Bank. Reliance Industries acquired Indian Petrochemicals Corporation Limited , which was fully merged into its operations by 2007. Privatization continued with J...
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