impact of globalisation in India
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IMPACTS OF GLOBALISATION IN INDIA
Economic Impact:
1) Greater Number of Jobs: The advent of foreign companies and growth in economy has led to job creation. However, these jobs are concentrated more in the services sector and this has led to rapid growth of service sector creating problems for individuals with low level of education. The last decade came to be known for its jobless growth as job creation was not proportionate to the level of economic growth.
2) More choice to consumers: Globalisation has led to a boom in consumer products market. We have a range of choice in selecting goods unlike the times where there were just a couple of manufacturers.
3) Higher Disposable Incomes: People in cities working in high paying jobs have greater income to spend on lifestyle goods. There has been an increase in the demand of products like meat, egg, pulses, organic food as a result. It has also led to protein inflation.
Economic Impact:
1) Greater Number of Jobs: The advent of foreign companies and growth in economy has led to job creation. However, these jobs are concentrated more in the services sector and this has led to rapid growth of service sector creating problems for individuals with low level of education. The last decade came to be known for its jobless growth as job creation was not proportionate to the level of economic growth.
2) More choice to consumers: Globalisation has led to a boom in consumer products market. We have a range of choice in selecting goods unlike the times where there were just a couple of manufacturers.
3) Higher Disposable Incomes: People in cities working in high paying jobs have greater income to spend on lifestyle goods. There has been an increase in the demand of products like meat, egg, pulses, organic food as a result. It has also led to protein inflation.
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ⓗⓔⓡⓔ ⓘⓢ ⓨⓞⓤⓡ ⓐⓝⓢⓦⓔⓡ
• Globalisation made greater competition among producers both local and foreign producers.
• Consumers get improved quality product at lower price.
• MNCs have increased their investment in India.
• Employment opportunities increased.
• Local companies supplying raw materials to MNCs have prospered.
• Globalisation enabled some large Indian companies to emerge as MNCs.
• It has also created new opportunity for companies providing services like IT companies.
❤HOPE IT HELPS YOU❤
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• Globalisation made greater competition among producers both local and foreign producers.
• Consumers get improved quality product at lower price.
• MNCs have increased their investment in India.
• Employment opportunities increased.
• Local companies supplying raw materials to MNCs have prospered.
• Globalisation enabled some large Indian companies to emerge as MNCs.
• It has also created new opportunity for companies providing services like IT companies.
❤HOPE IT HELPS YOU❤
ッ
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