Read the passage given below :
Globalization is the way to open businesses, improve technological growth, economy, etc, at the international level for all countries. It is the way in which manufacturers and producers of the products or goods sell their products globally without any restriction. It provides huge profits to the businessmen as they get 1ow cost labor in poor countries easily. It provides a big opportunity for companies to„ deal with the worldwide market.
Globalization helps to consider the whole world 'as a single market. Traders are extending their areas of business by treating the world as a global village. Earlier till the 1990s, there was a restriction on importing certain products that were already manufactured in India like agricultural products, engineering goods, food items, and toiletries. However, during the 1990s there was pressure from. the rich countries on the poor and developing countries to allow them to spread their businesses by opening their markets. In India, the globalization and liberalization process was started in 1991.
After many years, globalization brought about a major revolution in the Indian market when multinational brands came to India and started delivering a wide range of quality products at cheap prices. Prices of good quality products came down because of the cutthroat competition in the market.
Globalization and liberalization of the businesses in India have flooded the market with quality foreign products but have affected the local Indian industries adversely to a great extent resulting in job loss to poor and uneducated workers. Globalization has been a bonanza for the consumers, however, a loss to the small-scale Indian producers.
Globalization has had some very positive effects on the Indian consumer in all sectors of society. It has affected the Indian students and education sector to a great extent by making study books and a lot of information available over the internet. The collaboration of foreign universities with Indian universities has brought about a huge change in the field of education.
Globalization of trade in the agricultural sector has brought varieties of quality seeds that have disease resistati8e; property. However, it is not good for the poor Indian farmers because the seeds and agricultural technologies are costly.
It has brought about a huge revolution in the employment sector by the spread of businesses like cottage, handloom, carpet, artisan carving, ceramic, jewelry, and glassware, etc
(a) What is globalization?
(b) Write any two advantages of globalization.
(c) What was the pressure from the rich countries in the 1990s?
(d) What is the effect of multinational brands entering the Indian market?
(e) How are the prices of quality products affected due to globalization?
(f) How have foreign products affected the local industry adversely?
(g) What has been the impact of globalization on Indian students?
(h) Why has globalization had a negative effect on the poor Indian farmer?
(i) How has the cottage industry benefited from globalization?
(a) Globalization is the way to open a business, improve technological growth, economy, etc. at the international level for all countries.
(b) The two advantages of globalization are it helps to consider the whole world as a single market and multinational brands came to India to deliver a wide range of quality products at cheap rates.
(c) During the 1990s, there was pressure from the rich countries on the poor & developing countries to allow them to spread their business by opening their markets.
(d) The multinational brands entered the Indian market and started delivering a wide range of quality products at cheap rates.
(e) The prices of good quality products came down because of cutthroat competition in the market.
(f) The foreign products resulted in job loss to poor & uneducated workers affecting the local industry adversely
(g) Globalization affected the Indian students & education sector to a great extent by making study books & a lot of information available over the internet.
(h) Globalization in the agricultural sector had a negative impact on poor Indian farmer as it bought varieties of quality seeds which have disease resistance property but these seeds & agricultural technologies are costly for them.
(i) Globalization bought a huge revolution as it created employment opportunities for people through the cottage industry.