Impacts of globalisation
Answers
Answer:
Faster transport facility.
More job opportunity.
Even physical and mental impact.
It has lifted economy .
Explanation:
Answer:
Firstly, MNCs have increased their investments in India. These new industries have created new job opportunities and local companies supplying them raw materials etc. have flourished.
Secondly, some top Indian companies have been able to profit from the foreign competition that comes along with globalization. They have invested in newer technologies and raised their production standards, leading to an improvement in the quality of products.
Globalization has allowed some top Indian companies like Ranbaxy, Infosys and Asian Paints to become multinationals themselves.
Globalization has created new opportunities for the service sector, especially the IT industry.
But the small domestic producers who have been exposed to the competition from imported products have not been able to flourish. The service sector has gained more from globalization than agriculture.
Overall, the impacts of globalization have not been uniform for all.