“The impact of globalization has not been uniform.” Explain this statement.
Answers
globalization means growing of business across the world.
The impact of globalization has been huge upon the economy of the nations but hasn’t been uniform.
a. The MNCs had been investing in sectors that bear huge profits. In India, these MNCs have been interested in investing in electronic, automobiles sectors.
Due to this foreign investment, the small manufacturers have been hit hard.
b. The small industries hired the most of the laborers, but due to globalization, these laborers have become unemployed.
There also a positive impact of globalization:
a. Investment by foreign companies has increased the employment of skilled and educated workforce.
b. Many Indian companies have also set up their units across the world.
ANSWER ===
Since its introduction, globalization of the Indian economy has come a long way. Now there is greater choice before the consumers, who now enjoy improved quality and lower prices for several products. People are enjoying much higher standards of living than they enjoyed earlier. In this way, globalization has benefited well off consumers and also producers with skill, education and wealth.
But the other side of the picture is not very bright. Flexibility in labour laws has worsened the conditions of workers because they are appointed on non-regular basis to avoid facility of provident fund and other facilities. Workers work extra hours of work and they receive no payment for this. Small producers have also suffered from globalization because they are unable to compete with MNCs.