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Supposing you find two people arguing: One is saying globalisation has hurt our country’s development. The other is telling, globalisation is helping India develop. - Social Science

Answer in Brief

Supposing you find two people arguing: One is saying globalisation has hurt our country’s development. The other is telling, globalisation is helping India develop. How would you respond to these organisations?

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Solution

Globalisation has hurt our country’s development because: firstly, it has led to the annihilation of small producers who face stiff competition from cheaper imports. Secondly, workers no longer have job security and are employed “flexibly”.

Globalisation is helping India develop on account of the following reasons: firstly, the competition it entails has led to rising in the quality of products in the market. Secondly, it has made available a wider variety of goods in the market, for the buyer to choose from. Now, imported goods are easily available alongside domestic products.

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APPEARS IN

NCERT Class 10 Social Science Economics (Understanding Economic Development)
Chapter 4 Globalisation and the Indian Economy
Q 10 | Page 72
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