Question

analyse the role of globalisation on the Indian economy for 5 marks please answer me please
please guys its urgent

Answer 1

i. Firstly, Multi National Companies have increased their investments in India
over the past 15 years, MNCs have been interested in industries such as cell
phones, automobiles, electronics, soft drinks, fast food or services such as
banking in urban areas. In these industries and services, new jobs have been
created. Also, local companies supplying raw materials, etc. to these industries
have prospered.
ii. Secondly, several of the top Indian companies have been able to benefit from
the increased competition. They have invested in newer technology and
production methods and raised their production standards. Some have gained
from successful collaborations with foreign companies.
iii. Moreover, globalization has enabled some large Indian companies to emerge as
multinationals themselves! Tata Motors (automobiles), Infosys (IT), Ranbaxy
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(medicines), Asian Paints (paints), Sundaram Fasteners (nuts and bolts) are some
Indian companies which are spreading their operations worldwide.
iv. Globalization has also created new opportunities for companies providing
services, particularly those involving IT. The Indian company producing a
magazine for the London based company is an example.
v. Besides, a host of services such as data entry, accounting, administrative tasks,
engineering are now being done cheaply in countries such as India and are
exported to the developed countries.