How has globaisation affected the indian economy? Discuss
Answers
Due to globalization, in Indian economy it affect not only to agricultural production but also employment opportunities in the rural parts, inequality between urban & rural areas. Globalisation is conceived as a powerful transformative force responsible for a massive shake-out of nations, economies, international institutions & the whole world order. Thus, we can say that the higher the level of international corporations/transactions, the higher will be economic growth, income level & living standards the globalization process would bring. Globalisation has brought many jobs & large sums of investment to India. India’s economy has been growing at exceptional rates for the past several years & many new opportunities have opened up for India. Yet, India does remain quite poor. Most of those who profit from globalization in India are the upper classes, with many in the lower classes being displaced & suffering from miserable labor conditions. Globalization has created a large economic boom for India with largely positive effects. At the present, we can also say about the tale of two Indians. We have the best of times; we have the worst of times. Globalization of financial markets has far outpaced the integration of product markets. There is sparkling prosperity, there is stinking poverty. We have dazzling five star hotels side by side with darkened ill-starred hovels. We have everything by globalization