How has globalisation affected the life of Indians ? Explain with examples. Will mark brainliest for good answer.
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Answer:
IMPACT OF GLOBALISATION IN INDIA
Globalisation and greater competition among producers- both local and foreign producers- has been of advantage to consumers, particularly the well-off sections in the urban areas. There is greater choice before these consumers who now enjoy improved quality and lower prices for several products. These people today, enjoy much higher standards of living than was possible earlier. Among producers and workers, the impact of globalisation has not been uniform
(i) Increased investments MNCs have increased their investments in India over the past 15 years, which means investing in India has been beneficial for them. New jobs have been created. Local companies supplying raw materials, etc. to these industries have prospered.
(ii) Increased competition. Several of the top Indian companies have been able to benefit from the increased competition. They have 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.
(iii) Translations in to MNCs Globalisation has enabled some larger Indian companies to emerge as multinational themselves. (iv) New opportunities Globalisation has also created new opportunities for companies providing services, particularly those involving IT
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Globalisation
Explanation:
- The process of integration and interaction among people, government and companies worldwide is called globalisation.
- It had both positive and negative effects.
- It has affected various sectors such as health sector, financial, industrial and agricultural.
- It allowed the firms in India to tap into larger markets around the world, and allowed it have access to capital flows, human capital, technology, larger export markets and cheaper imports.
- After the LPG reforms Indian Economy got integrated into the global economy. But After a year its foreign currency reserves dwindled and went down to 1 billion dollars.
Learn more:
Merits or demerits of LPG economic reforms since 1991?
https://brainly.in/question/12070579