Explain how have our markets been transformed ? Explain with example
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The advent of globalization and the policy of liberalization have opened the market to the world players.The economy of our country has rapidly grown with the onset of LPG (Liberalization, Privatization and Globalization) reforms in 1991.
MNCs play a vital role in the world market and as a result foreign trade and investment in the country has increased. MNCs are playing a major role in the market by introducing exchange of technology between countries.
Foreign trade effects in integration of domestic markets in different countries.
In recent times, technology in the areas of telecommunications, computers and internet has been changing rapidly.
Globalization has also created new opportunities for companies providing services, particularly those involving IT.
Better job opportunities for people have given rise to migration.
Also globalization has enabled some large Indian companies to emerge as multinationals themselves. Tata Motors (auto- mobiles), Infosys (IT), Ranbaxy (medicines) are some Indian companies which are spreading their operations worldwide.
MNCs play a vital role in the world market and as a result foreign trade and investment in the country has increased. MNCs are playing a major role in the market by introducing exchange of technology between countries.
Foreign trade effects in integration of domestic markets in different countries.
In recent times, technology in the areas of telecommunications, computers and internet has been changing rapidly.
Globalization has also created new opportunities for companies providing services, particularly those involving IT.
Better job opportunities for people have given rise to migration.
Also globalization has enabled some large Indian companies to emerge as multinationals themselves. Tata Motors (auto- mobiles), Infosys (IT), Ranbaxy (medicines) are some Indian companies which are spreading their operations worldwide.
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