in matter of years, how have markets been transformed
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Answer:
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The advent of globalisation and the policy of liberalization have opened the market to the world players. It has given rise to wide choice of goods and services to the consumer. MNCs have played a vital role in the world market. Foreign trade and investment in’the country has increased. It has also resulted in exchange of technology between countries.
In recent times, technology in the areas of telecommunications, computers and internet has been changing rapidly. Globalisation has also created new opportunities for companies providing services, particularly those involving in IT. Better job opportunities for people have given rise to migration. Globalisation has also enabled some large Indian companies to emerge as multinationals For example, Tata Motors, Infosys, Ranbaxy have expanded their operations around the world.