Describe the impact of globalisation on indian economy . Support your answer with suitable examples
Answers
Explanation:
Improved consumer's living standard as now they have wider variety of goods and services available.
Loss to small producers as they could not face foreign competition.
Intoduction of new technology and production method as local companies work jointly with MNCs
Rise of indian multi national corporations for ex. Asian paints.
Foreign investments in india.
Increase in job opportunities.etc...
Hope it will help you
Answer:
Impact of globalisation on:
Producers: Tough competition faced by the producers in the native country by the producers of foreign markets
Workers: Job insecurity, denial of fair share in the benefits brought about by globalisation.
Other impacts:
Increase in the foreigh trade
Increase in foreign investment
exchange of technology between countries.
Better means of communication have developed alongside globalization
Better job opportunities for people gave rise to migration