Explain the factor that have enabled globalization possible
Answers
Explanation:
Factors that supported globalisation in India are as follows : (a) Reduction of trade barriers with a view to allowing free flow of goods to and from other countries. (b) Involvement of various local producers with MNCs in various ways. ... emerged as MNCs and start working globally.
Globalization is the process of rapid interconnection and integration of countries through increase in foreign trade and foreign investment. The factors that have enabled Globalization are as follows: -
Rapid improvement in transportation technology has led to an efficient transportation process with fast delivery of goods across long distances at lower costs.
Developments in information and communication technology have made communicating with countries distant from one another easy and at low cost.
Liberalisation of foreign trade and foreign investment promoted foreign trade which linked countries more closer eventually leading to Globalization