Question

how has competition benefited people in India​

Answer 1

Question: How has competition benefited people in India?

How has competition benefited people in India?Answer: Competition has benefited the people in India in the following ways:

• The Indian producers have improved their technology and the quality to compete with foreign goods...
• The prices of the Indian goods have reduced to match those of foreign goods, and so, the buyers of these items have benefited...
• There have been increased joint ventures between foreign and Indian companies, which have improved the business of both, and have also created employment opportunities...

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Answer 2

★ANSWER★

Competition benefitted people in India be the following ways

1. It helps in getting goods at cheap cost with better quality
2. Some has gained a good and successful collaboration with foreign companies
3. Due to Competition companies have invested in newer technologies and production method
4. Competition has helped Indian companies to better production and management practices to enhance on their efficiency in their business operation
5. It has helped in creating new jobs in the country so that high level production can be achieved by both in domestic and international markets.

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