Question

What do you mean by Globalization? What are the effects of globalization in India?​

Answer 1

Answer:

The following are the positive impacts of globalisation 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.

Answer 2

Step-by-step explanation:

Globalization is the integration or interconnection between the countries through trade

and foreign investments by multinational corporations (MNCs).

Positive impacts:-

1) Greater choice and improved quality of goods at competitive price and hence raises

standard of living.

2) MNCs have increased investments in India.

3) Top Indian companies emerged as multinationals.

4) Created new opportunities for companies providing services like IT sector.

5) Collaborations with foreign companies help a lot to domestic entrepreneurs.

Negative impacts:-

1) Indian Economy faced the problem of brain drain.

2) Globalization has failed to mark its impact on unemployment and poverty.

3) Cut in farm subsidies.

4) Closure of small industries.