Question

Globalization has been advantage to both producers and consumers in India.Ecplain tge statements critically?

Answer 1

Globalisation and greater competition amongproducers-both local andforeign, has been of advantage to consumers in the following ways  

(i) Companies have invested in new technology to raise their production quality to compete with the MNCs, thus, ensuring that consumers get better quality products and be satisfied.

(ii) Indian companies have collaborated with MNCs to produce more functional and advanced products, thus, benefitting the consumers.

(iii) Consumer can enjoy improved quality at lower prices for several products. This has led to higher standard of living.

(iv)Due to competition the prices of various products had come down.

(v) The well off section of people in urban areas got much of the benefits of globalisation.

Answer 2

globalisation has helped the producers as when the MNCs from other countries come to invest in the countries they make a joint venture with the local producers and local producers are benefited by MNCsas MNCs carry use capital with them and new technology the local producers got a chance to work with the new technology with the MNCs and local producers also get the capital which the MNC is carry with them .

MNCs help in another way that they make large orders to the local producers .

if we talk about the benefits of the consumers that MNC is provided or uncountable

they provide the products at very cheap rates and they also provide variety in the products .
with the help of MNC the rate of the products in both the two markets have been seen .

these are the benefits provided by MNCs to producers as well as to consumers ...