how globalization has affected the lives of the people? explain with three examples
Answers
Explanation:
(i) Increased their investment in industries such as cell phones, automobiles, electronics, soft drinks, fast food or services such as banking in urban areas.
(ii) New jobs have been created.
(iii) Local companies supplying raw materials to these industries have prospered.
(iv) Increased competition.
(v) Several top Indian companies have been able to benefit from the increased competition. They have invested in newer technology and production methods and raised their production standards. Some have gained from successful collaborations with foreign companies.
(vi) New opportunities for service such as data entry, accounting, administrative tasks, engineering are now being done cheaply in countries such as India and are exported to the developed countries