Critically examine the impact of globalization in India.( in 3 pionts)
Answers
Globalisation has affected India under these headings such as :
Economic effect: farmers are suffering due to cheap import, small traders are suffering due to big malls like walmart. There is dispute going on export subsidies India providing to its farmer at WTO forum. On the other hand, globalisation has given chance to expand Indian IT sector+ pharma sector + Agricultural processed material. These Steps provides us foriegn currency. The increasing foreign reserve gives us chance to have more development activities.
Cultural: due to globalisation people are getting attracted towards western life style. This behavioural change causing change in their expenditure pattern. They are less saving and more consuming. They are eager to buy branded and imported good which ultimately results in increase in current account deficit or causes trade deficit. Cultural aspect of globalisation is distroying our rich ancient culture and values. To substantiate this allegation Vivekanand once said that we should learn science from western world and let them have a deep sense of our rich moral values.
3.Political : foreign institutes such as World bank, IMF and WTO are interefeering in internal matters of a sovereign country. A global accident can affect internal politics. A rise in right wing leads to formation of govt. Under modi and donald trump. This is a global trend.
Hi there,
Following is the impact of globalization in India;
The establishment of private businesses increased the incoming of income.
The establishment of higher educational institutes.
Higher rate of job market and employment.
Establishment of organizations that are renowned globally.
Establishment of MNC's has increased its foreign relationships.
The standard of education is accepted globally.
Increase in tourism .
Import export in the country.
I hope the answer is helpful.
Thank