Question

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Impact of globalisation in India Globalisation and greater competition among producers - both local and foreign producers - has been of advantage to consumers, particularly the well-off sections in the urban areas. There is greater choice before these consumers who now enjoy improved quality and lower prices for several products. As a result, these people today, enjoy much higher standard of living than was possible earlier.

How is globalisation beneficial for consumers?

Answer 1

1. Globalization and greater competition among local and foreign producers have benefited consumers, particularly well-off urban residents.
2. There is greater choice before these consumers who now enjoy improved quality and lower prices for several products.