Question

Choose the correct statement about factors regarding globalization in
India :
I. Improvement in transportation technology.
II. Liberalization of foreign trade and foreign investment.
III. Favourable rules of WTO towards India in comparison to
developed countries.
Choose the correct options from the codes given below:
(A) Only I and II
(B) Only I and III
(C) Only II and III
(D) Only III
​

Answer 1

(A) Only I and II

Explanation:

• Option III is incorrect because World Trade Organization only works in favor of developed countries like The United States of America and not developing countries like India.
• Globalization has definitely improved the transportation facilities in India with the improvement in technology.
• Liberalization of foreign trade has helped India to improve the economy by growing businesses and opportunities through increased trade practices.

Answer 2

I. Improvement in transportation technology.

II. Liberalization of foreign trade and foreign investment.

Explanation:

• lll statement is incorrect as WTO Rules favours developed countries.

• Liberalization of foreign trade and foreign investment enhance consumer choice and consumer surplus.

• The fast growth and overall development resulting from liberalisation could have a major impact on several sectors and sections of the society.

• There will be improvement in transportation technology in India because of globalisation.

• The foreign direct investment inflow to India will be increasing and there will be fast growing in developing world account.

To know more:

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