Question

ECONOMICS

CHAPTER 4
GLOBALIZATION AND THE INDIAN ECONOMY




How has competition benefited people in India ?

Answer 1

Heya,

Answer to your question is:-

Competition from imported goods has benefitted people in India in the following ways:-

✔ Indian producers have improved their technology and quality to compete with foreign goods. This has benefitted the buyers of the goods as well as the producers, who can now compete in the world market.

✔ Prices of Indian goods have reduced to match those of foreign goods and so buyers of these items have benefitted.

✔ Some Indian companies have entered into collaboration with the foreign companies and some MNCs have invested in Indian companies, thus benefiting both.

HOPE THIS HELPS YOU:-))
@ashu

Answer 2

Question: How has competition benefited people in India?

Answer: Competition has benefited the people in India in the following ways:

The Indian producers have improved their technology and the quality to compete with foreign goods...

The prices of the Indian goods have reduced to match those of foreign goods, and so, the buyers of these items have benefited...

There have been increased joint ventures between foreign and Indian companies, which have improved the business of both, and have also created employment opportunities...

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