what is globalisation?what are the impact of globalisation?
Answers
Explanation:
Globalization means the speedup of movements and exchanges (of human beings, goods, and services, capital, technologies or cultural practices) all over the planet. One of the effects of globalization is that it promotes and increases interactions between different regions and populations around the globe.
Globalisation is having a dramatic effect - for good or bad - on world economies and on people's lives. Some of the positive impacts are: Inward investment by TNCs helps countries by providing new jobs and skills for local people.
Globalization creates greater opportunities for firms in less industrialized countries to tap into more and larger markets around the world. Thus, businesses located in developing countries have more access to capital flows, technology, human capital, cheaper imports, and larger export markets.
Impact of Globalisation in India
Greater competition among producers – both local and foreign producers has been of advantage to consumers. There is greater choice before these consumers who now enjoy improved quality and lower prices for several products. Foreign investment has increased.