Major components of globalisation explain
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Hi there,
The term globalisation means opening domestic country for world trade..
Import and export relates to its components..thank u..
The term globalisation means opening domestic country for world trade..
Import and export relates to its components..thank u..
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Globalisation can be defined as a process associated with increasing openness, growing economic independence and promoting economic integration in the world economy.
Some of the important strategies followed by India in the direction of globalisation are as follows.
1. Encouragement to Foreign Capital Investment: With the aim of encouraging foreign capital investment, the following steps were taken.
The equity limit of foreign capital was raised from 40% to 51% to 100%. Foreign Direct Investment up to 100% was also allowed in high priority industries.Foreign capital investment upto 100% was allowed in the export houses. Special Economic Zones (SEZs) were set up for the promotion of exports. The industries in the SEZ's were provided with infrastructure facilities such as electricity, roads, transport, storage, etc. Foreign Exchange Management Act (FEMA) was introduced with the view of attracting higher foreign investment
Some of the important strategies followed by India in the direction of globalisation are as follows.
1. Encouragement to Foreign Capital Investment: With the aim of encouraging foreign capital investment, the following steps were taken.
The equity limit of foreign capital was raised from 40% to 51% to 100%. Foreign Direct Investment up to 100% was also allowed in high priority industries.Foreign capital investment upto 100% was allowed in the export houses. Special Economic Zones (SEZs) were set up for the promotion of exports. The industries in the SEZ's were provided with infrastructure facilities such as electricity, roads, transport, storage, etc. Foreign Exchange Management Act (FEMA) was introduced with the view of attracting higher foreign investment
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