Negative effects of globalization
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Some of the negative impact of the globalisation are listed below....
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student-nameApoorva Sinha asked in Social Science
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The so-called negative effects of globalization on Indian industry have been:
1. Rise in demand for labor and the rise in wage rates leading to some increase in costs.
2. Weakening power of the trade unions over labor in emerging industries and growth sectors like IT, entertainment, internet and mobile services, airlines, banking, insurance, banking services.
3. Too much competition in the market leading to continuous pressure on raising productivity, enhancing consumer service, improving product quality, in order to survive.
4.Voluntary retirement for many public sector units.
5. Too many sales person chasing customers.
6. Too many cars on the road and traffic congestion.
7. Growth of consumerism.
8. Instability in profits due to too much choice among customers.
9. Shortage power and infrstructure affecting industrial expansion.
10. Closure of inefficient units supplying costly and shoddy products and loss of jobs.
11. Two years of large increase in textile industry jobs followed by large loss of jobs due to Rupee appreciation making Indian industry uncompetitive.
12. Problems of dealing with uncertainty in the international market in terms of demand, supply and prices.
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