I wait to Essy globalization on india
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Answer:
Globalization is something that we all have to deal with and should encourage if we wish to continue world economic development. By integrating culture, economies, politics, societies, and technology we can see globalization in action. There are some who argue that the negative aspects of globalization are something to be scared about, such as corporate world domination to be extreme, but overall growing economies understand that there are only a few negatives and that they can be managed in a way that make them acceptable . The majority of countries, especially India, notice the great benefits globalization has to offer and are eagerly trying to further negotiations to break down barriers and unite worldwide.
Answer:
GLOBALIZATION IN INDIA
Globalization is something that we all have to deal with and should encourage if we wish to continue world economic development. By integrating culture, economies, politics, societies, and technology we can see
globalization in action. There are some who argue that the negative aspects of globalization are something to be scared about, such as corporate world domination to be extreme, but overall growing economies understand that there are only a few negatives and that they can be managed in a way that make them acceptable . The majority of countries, especially India, notice
the great benefits globalization has to offer and are eagerly trying to further negotiations to break down barriers and unite worldwide.
Globalization refers to the process through which societies and economies are integrated through cross border flows of ideas, communication, technology, capital, people, finance, goods, services and information. Cross country Integration has several aspects and can be political, cultural, social and/or economic, allwhich equal globalization. However, economic integration is the most common of the four aspects. Economic integration involves forming a nation’s economy into an international economy. Unlike many of today’s barriers, in the past there were no visa requirements, passports and tariff barriers or restrictions. After World War I and II the early trends of globalization decreased throughout the world as many barriers were set up which restricted the movement of goods and services.
India is a developing economy which has teeter totted from being one of the poorest in the world at one time to once again one of the world’s top economies in recent years. The Indian economy is growing in steady manner which has promoted economic development. The population in India accounts for 17.5% of the total world’s population. However India has a population growth rate of only 1.41% and is ranked 93rd in the world. India is consequently a capital-scarce economy that needs long-range sustainability of their resources such as water, minerals and land. The efficient utilization of India’s capacity calls for a skilled work force which will increase the competitive advantage of India over other countries. The Indian government has modeled policies in focus of the promotion of economic growth and tapping into the benefits of foreign investment and world market. The government has gone to the extent of introducing tax exemptions for core units and infrastructure. By making improvements in the infrastructure it will benefit many businesses and consumers, as well as create many jobs improving the unemployment rate.
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