Question

Assess the impact of globalization on India and its people.

Examine the impact of globalization in India.

Answer 1

1. Globalization has resulted in more choices for the consumers
2. This has improved the standard of living of people
3. MNCs have increased their investments in industries such as cell phones, automobiles, electronics, soft drinks, etc.
4. New jobs have been created.
5. Some local companies that supply raw materials to MNCs have also benefited.
6. Some local companies have been able to invest in newer technology and production methods.
7. Globalisation has enabled some large companies such as Tata Motors, and Infosys to emerge as multi-national companies.
8. Companies providing services have also benefited from globalisation.
9. Flexibility in labour laws
10. Expansion of unorganised sector
11. Stiff competition to the local producers