Question

Answer the following question.
How do we feel the impact of globalization on our daily life? Explain with examples.

Answer 1

Impact of globalization on our lives are given below :
Positive impact:

1. MCSs have increased their investments in India. eg, industries like cell phones, automobiles, etc.
2. New jobs were created
3. The competition raised production standards
4. Companies benefitted from increased competition
5. Made collaborations and emerged men's
   

Negative impact:

1. Small manufacturers have been hit hard due to foreign competition
2. Educated and unskilled workers have become jobless due to closure of various units
3. Globalization has a negative impact on most of the small industries which employ the largest number of workers after agriculture.