how has globalisation helped the Indian economy? explain with the help of appropriate exams ?
Answers
Answer:
Globalization in the Indian economy Indian society is changing drastically after urbanization and globalization. Economic policies have had a direct influence in forming the basic framework of the economy. Economic policies established and administered by the government also performed an essential role in planning levels of savings, employment, income and investments in society. Cross country culture has one of the critical impacts of Globalization on Indian society. It has significantly changed several aspects of the country, including the cultural, social, political and economical. However, economic unification is the main factor that contributes the maximum to a country's economy into an international economy.
Advantages of Globalization in India • Increase in Employment: With the opportunity of Special Economic Zones (SEZ), there is an increase in the number of new jobs available. Including Export Processing Zones (EPZ) Center in India is very useful in employing thousands of people. Another additional factor in India is cheap labor. This feature motivates big companies in the west to outsource employees from other regions and cause more employment. Increase in Compensation: After Globalization, the level of compensation has increased as compared to do estid companies due to the skill and knowledge a foreign company offers. This opportunity also emerged as an alteration of the management structure. High Standard of Living: With the outbreak of Globalization, the Indian economy and the standard of living of an individual has increased. This change is notified with the purchasing behavior of a person, especially with those who are associated with foreign companies. Hence, many cities are undergoing a better standard of living along with business development.
What are examples of Globalization? The two examples of globalisation are. 1. Travel - The capacity to travel to other places and experience their cultures. 2. Transportation - International transportation systems, such as air travel and shipping.
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Answer:
Development of Capital Market: - Globalization has helped in Indian capital market development now many foreign investors invest in Indian capital market recently there has been substantial increase in inflow of foreign direct investment and portfolio investment. ... It has increased employment opportunities for Indian.
Explanation: