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For the Indian economy and business 1994 was a year of renewal of a promise and consolidation of a hope that was kindled three years ago when the Narasimha Rao government decided to usher in a wave of liberalization of the economy. It was a year of braving fresh challenges which came by the dozen as Indian industry put up its best performance ever and the year when the consumer was king with the whole range of Indian and foreign brands to choose from. 1994 hasn't ended on the best of notes the humiliating defeat of the ruling Congress Party in the assembly election in Andhra Pradesh and Karnataka and the consequent upheavals in the organization in December have left a big question mark over the fate of the economic reforms would the Rao government still pursue them in full earnest and if s
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