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Questions
Assess the impact of globalization on India and its people.
Examine the impact of globalization in India.
Long Answer
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Solution
- Globalization has resulted in more choices for the consumers
- This has improved the standard of living of people
- MNCs have increased their investments in industries such as cell phones, automobiles, electronics, soft drinks, etc.
- New jobs have been created.
- Some local companies that supply raw materials to MNCs have also benefited.
- Some local companies have been able to invest in newer technology and production methods.
- Globalisation has enabled some large companies such as Tata Motors, and Infosys to emerge as multi-national companies.
- Companies providing services have also benefited from globalisation.
- Flexibility in labour laws
- Expansion of unorganised sector
- Stiff competition to the local producers
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Impact of Globalisation in India
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