Impact of Globalization on India
Answers
There are some negative impact of globalization such as this process made disparity between rural and urban Indian joblessness, growth of slum capitals and threat of terrorist activities. Globalization increased competition in the Indian market between the foreign companies and domestic companies.
Answer:
Globalization is a significant factor in competitive world that integrate and mobilize cultural values of people at global level. In the age of rapid technical progression, many countries are unified and transformed due to the process of globalization. Globalization has a huge impact on cultural, social, monetary, political, and communal life of countries. Abundant theoretical studies demonstrated that globalization intercedes in a cultural life of populace that raises numerous critical issues (Robertson, 1992). In broad sense, the term ‘globalization’ means combination of economies and societies through cross country flows of information, ideas, technologies, goods, services, capital, finance and people. Globalization is described by theorists as the process through which societies and economies are integrated through cross border flows of ideas, communication, technology, capital, people, finance, goods, services and information.