Question

impact of globalisation of indian economy in sst in 30 pages​

Answer 1

Answer:

The growth of foreign investment in the field of corporate, retail and the scientific sector is enormous in the country. It also had a tremendous impact on the social, monetary, cultural and political area. In recent years, Globalisation has increased due to improvements in transportation and information technology

Answer 2

Explanation:

IN SMALL

The growth of foreign investment in the field of corporate, retail and the scientific sector is enormous in the country. It also had a tremendous impact on the social, monetary, cultural and political area. In recent years, Globalisation has increased due to improvements in transportation and information technology

IN EXPLANATIONED WAY》

Indian society is changing drastically after urbanisation and Globalisation. 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 Globalisation 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 Globalisation 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) Centre in India is very useful in employing thousands of people. Another additional factor in India is cheap labour. This feature motivates big companies in the west to outsource employees from other regions and cause more employment.
• Increase in Compensation: After Globalisation, the level of compensation has increased as compared to domestic 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 Globalisation, the Indian economy and the standard of living of an individual has increased. This change is notified with the purchasing behaviour 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.

Impact of Globalisation

Outsourcing: This is one of the principal results of the Globalisation method. In outsourcing, a company recruits regular service from outside sources, often from other nations, which was earlier implemented internally or from within the nation (like computer service, legal advice, security – each presented by individual departments of the corporation, advertisement). As a kind of economic venture, outsourcing has increased, in recent times, because of the increase of quick methods of communication, especially the growth of Information Technology (IT).

Many services such as voice-based business processes (commonly known as BPS, BPO or call centres), accountancy, record keeping, music recording, banking services, book transcription, film editing, clinical advice or teachers are being outsourced by companies in advanced countries to India.

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