Question

1. What is globalisation? Explain the factors that have enabled globalisation

Answer 1

Answer:

Globalisation means unification or integration of the domestic economy with the world economy through trade, capital and technological flows. ... (a) Reduction of trade barriers with a view to allowing free flow of goods to and from other countries. (b) Involvement of various local producers with MNCs in various ways.

Answer 2

Globalisation: it is defined as the interaction between countries through foreign trade and foreign investments by multi national corporations (MNCs).

Factors that supported globalization in India are as follows:

a) reduction of trade barriers with a view to allowing free flow of goods and form other countries.

b) involvement of various local producers with MNCs in various ways.

c) some of the large Indian companies like tata motors , Infosys (IT), Ranbaxy, Asian paints etc. emerged as MNCs and start working globally .

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