Negative and positive impact of globalisation in india class 10
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Answered by
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Globalisation and the Indian Economy CBSE Class 10 Economics
Question-1
What are the factors that have enabled globalisation ?
Solution:
Rapid improvement in transportation and communication technology and the liberalisation of trade restrictions and foreign investment have been the major factors that has enabled the globalisation process.
The dramatic improvement in transportation technology has played a vital role in faster delivery of goods across long distances at lower costs and in the movement of people from one country to another in a short time. As the basis of gloalisation is foreign trade movement of goods and people are vital for globalisation.
Information and communication technology (or IT in short) has also played a major role in globalisation. Many MNCs are service based companies therefore the transfer of information is very vital to them. Computers , internet facilities, telegraph, telephones mobile phones, and fax are used to contact one another around the world, to access information instantly, and to communicate from remote areas.
Liberalisation of foreign trade and investment policy has speeded up the globalization process. During the end of the 20th century, India removed trade barriers and foreign goods flooded the Indian market. Barriers on foreign investment were also removed to a large extent enabling many MNCs to set up their factories in India.
Question-2
Write a short note on WTO.
Solution:
World Trade Organisation (WTO) is an international body which aims at liberalising international trade. It was started at the initiative of the developed countries.
i. WTO establishes rules regarding international trade,
ii. It sees that these rules are obeyed by the member countries,
iii 149 countries of the world are currently members of the WTO (2006).
WTO Head Quarters is situated in Geneva, Switzerland. It was established in the year 1995. There are 151 member countries in WTO and its budget for the year 2007 is 182 million Swiss francs.
The functions of the WTO are as follows:
• Administering WTO trade agreements.
• Forum for trade negotiations.
• Handling trade disputes.
• Monitoring national trade policies.
• Technical assistance and training for developing countries.
• Cooperation with other international organizations.
Question-3
What are the positive impacts of globalisation in India ?
Solution:
The positive impact of globalisation in India has been tremendous.
1. Greater competition among producers resulting from Globalisation is a great advantage to consumers as there is greater choice before them. Consumers now enjoy improved quality and lower prices for several products.
2. Due to globalisation many MNCs have increased their investments in India. This means thousands of people are getting highly paid jobs and, enjoy much higher standards of living than was possible earlier.
3. Local companies supplying raw materials, to these industries have prospered.
4. Top Indian companies have benefit from increased competition. They have invested in newer technology and production methods and raised their production standards.
5. Some Indian companies have gained from successful collaborations with foreign companies.
Large Indian companies have emerged as multinationals like Tata Motors Globalisation has also created new opportunities for Indian companies providing services, particularly in the IT field. Services such as data entry, accounting, and administrative tasks, are now being done cheaply in India and exported to the developed countries. This has generated thousands of jobs.
Question-1
What are the factors that have enabled globalisation ?
Solution:
Rapid improvement in transportation and communication technology and the liberalisation of trade restrictions and foreign investment have been the major factors that has enabled the globalisation process.
The dramatic improvement in transportation technology has played a vital role in faster delivery of goods across long distances at lower costs and in the movement of people from one country to another in a short time. As the basis of gloalisation is foreign trade movement of goods and people are vital for globalisation.
Information and communication technology (or IT in short) has also played a major role in globalisation. Many MNCs are service based companies therefore the transfer of information is very vital to them. Computers , internet facilities, telegraph, telephones mobile phones, and fax are used to contact one another around the world, to access information instantly, and to communicate from remote areas.
Liberalisation of foreign trade and investment policy has speeded up the globalization process. During the end of the 20th century, India removed trade barriers and foreign goods flooded the Indian market. Barriers on foreign investment were also removed to a large extent enabling many MNCs to set up their factories in India.
Question-2
Write a short note on WTO.
Solution:
World Trade Organisation (WTO) is an international body which aims at liberalising international trade. It was started at the initiative of the developed countries.
i. WTO establishes rules regarding international trade,
ii. It sees that these rules are obeyed by the member countries,
iii 149 countries of the world are currently members of the WTO (2006).
WTO Head Quarters is situated in Geneva, Switzerland. It was established in the year 1995. There are 151 member countries in WTO and its budget for the year 2007 is 182 million Swiss francs.
The functions of the WTO are as follows:
• Administering WTO trade agreements.
• Forum for trade negotiations.
• Handling trade disputes.
• Monitoring national trade policies.
• Technical assistance and training for developing countries.
• Cooperation with other international organizations.
Question-3
What are the positive impacts of globalisation in India ?
Solution:
The positive impact of globalisation in India has been tremendous.
1. Greater competition among producers resulting from Globalisation is a great advantage to consumers as there is greater choice before them. Consumers now enjoy improved quality and lower prices for several products.
2. Due to globalisation many MNCs have increased their investments in India. This means thousands of people are getting highly paid jobs and, enjoy much higher standards of living than was possible earlier.
3. Local companies supplying raw materials, to these industries have prospered.
4. Top Indian companies have benefit from increased competition. They have invested in newer technology and production methods and raised their production standards.
5. Some Indian companies have gained from successful collaborations with foreign companies.
Large Indian companies have emerged as multinationals like Tata Motors Globalisation has also created new opportunities for Indian companies providing services, particularly in the IT field. Services such as data entry, accounting, and administrative tasks, are now being done cheaply in India and exported to the developed countries. This has generated thousands of jobs.
Answered by
2
here is your answer----
- small scale producers have been benefited a lot.
- many new technologies have been introduced in India.
- introduction of information technology has changed India's fate.
- globalisation has brought in foreign exchange.
- more choice to consumers.
hope it helps. :))
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