Question

Explain three ways in which pressure of competition due to globalisation has significantly changed the life of Indian workers.

Answer 1

Explanation:

Globalisation has contributed in the booming of the Indian economy in the following ways:

(i) Greater competition among producers resulting from globalisation is a great advantage to consumers as there is greater choice regarding every product before them.

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(ii) Die to globalisation, many MNCs have increased their investment in India, this has not only helped in the inflow of capital but also helped largely in employment generation.

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(iii) Local companies supplies raw material to the industries that have been set as a result of the globalisation, have prospered leaps and bounds.

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