Question

what has been the impact of globalisation on India explain

Answer 1

Hey Mate Here's the Answer...




Globalisation has affected India under these headings such as :

Economic effect: farmers are suffering due to cheap import, small traders are suffering due to big malls like walmart. There is dispute going on export subsidies India providing to its farmer at WTO forum. On the other hand, globalisation has given chance to expand Indian IT sector+ pharma sector + Agricultural processed material. These Steps provides us foriegn currency. The increasing foreign reserve gives us chance to have more development activities.

Cultural: due to globalisation people are getting attracted towards western life style. This behavioural change causing change in their expenditure pattern. They are less saving and more consuming. They are eager to buy branded and imported good which ultimately results in increase in current account deficit or causes trade deficit. Cultural aspect of globalisation is distroying our rich ancient culture and values. To substantiate this allegation Vivekanand once said that we should learn science from western world and let them have a deep sense of our rich moral values.

Social aspect: globalization is causing nuclear family and consequently, fall of value system. MNC's are setup in metro cities. A small town guy gets job in these companies and take a house on rent then after some get married. He also got chance to have a foriegn deputation but during all this he finally loses touch with his parents. Nuclear families are more based on utilitarianism therefore, in case of any dispute relations ends. Dissatisfied and stressed people go to prostitutes. Ultimately causing damage to family structure.

Political : foreign institutes such as World bank, IMF and WTO are interefeering in internal matters of a sovereign country. A global accident can affect internal politics. A rise in right wing leads to formation of govt. Under modi and donald trump. This is a global trend.

Philosophical: globalisation is philosophically defined by liberalism. After 1991, the fall of USSR leads to rise of USA. USA supports open market economy. Thus, Globalisation is making most of the big economies easily penetratable. This is not so good in favour of poor and needy population.

Answer 2

hey mate here is your answer

it has improved the prodictivity of indian companies in the in the use of resources through the process of competition.

the growth rate of Indian economy has gone up with the increase for investment and foreign technology in India.

it has allowed the consumer to enjoy a wider range of goods and services whose costs are lower
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