globalisation and indian economy .
Marits and demerits.
Answers
Answer:
The following are some of the important advantages of globalisation for a developing country like India: (i) Globalisation helps to boost the long run average growth rate of the economy of the country through: (a) Improvement in the allocative efficiency of resources; (b) Increase in labour productivity; Globalization help us fight illiteracy and promotes education. It gives us clear knowledge of facts and things. Globalization help us shed or combat the burning social issues such as child-labor, dowry, etc. Globalization has helped the global community to fight against poverty.Globalisation is important to expand markets and enable a business to make sensible utilisation of available resources. It also solves various issues of individual and nation giving than many options to choose from and satisfy their need. Globalization boosts exports and discourages import and uplifts foreign exchange.
Access to New Cultures. Globalization makes it easier than ever to access foreign culture, including food, movies, music, and art. ...
The Spread of Technology and Innovation. ...
Lower Costs for Products. ...
Higher Standards of Living Across the Globe. ...
Access to New Markets. ...
Access to New Talent.
Explanation:
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