state any three impact of globalisation in India?give ans in short
Answers
Answer:
i) It has improved the productivity and efficiency of Indian companies in the use of resources through the process of competition. (ii) The growth rate of the economy has gone up with the increase in foreign investment and foreign technology in India.
The following are the positive impacts of globalization on the Indian economy:
1) Increased foreign investment in India.
2) Greater cultural exchange because of greater movement of the people. This has greatly helped the tourism sector in India.
3) Opening up of the Indian markets to foreign goods.
4) The greater competition among companies leading to improvement of quality with reduction in prices of the products.
5) Access to newer technology and improved ways of production from the more advanced countries leading to efficiency in the local industries.
6) Gave a varieties of choices to the people for different products.
7) Development in economy due to investment by MNCs.