Question

Analyse the impact of globalization in India.

Answer 1

Indian economy had experienced major policy changes in early 1990s. The new economic reform, popularly known as, Liberalization, Privatization and Globalization (LPG model) aimed at making the Indian economy as fastest growing economy and globally competitive. The series of reforms undertaken with respect to industrial sector, trade as well as financial sector aimed at making the economy more efficient.


With the onset of reforms to liberalize the Indian economy in July of 1991, a new chapter has dawned for India and her billion plus population. This period of economic transition has had a tremendous impact on the overall economic development of almost all major sectors of the economy, and its effects over the last decade can hardly be overlooked. Besides, it also marks the advent of the real integration of the Indian economy into the global economy.

Answer 2

ⓗⓔⓡⓔ ⓘⓢ ⓨⓞⓤⓡ ⓐⓝⓢⓦⓔⓡ

$\boxed{Impacts\: of \:Globalisation\: in\: India}$

• Globalisation made greater competition among producers both local and foreign producers.

• Consumers get improved quality product at lower price.

• MNCs have increased their investment in India.

• Employment opportunities increased.

• Local companies supplying raw materials to MNCs have prospered.

• Globalisation enabled some large Indian companies to emerge as MNCs.

• It has also created new opportunity for companies providing services like IT companies.

❤HOPE IT HELPS YOU❤
ッ