what is globalization explain the positive impact of globalization on Indian economy
Answers
Answer:
Globalization is an important element of economic reform, introduced in India in 1991. ... This implies that it should raise the rate of Economic growth in country and reduce poverty and that it should not increase inequalities in the Economy, Also, There should be social integration of the economy with rest of the world.
The following are the positive impacts of globalisation on the Indian economy:
The following are the positive impacts of globalisation on the Indian economy:1) Increased foreign investment in India.
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.
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.
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.4) The greater competition among companies leading to improvement of quality with reduction in prices of the products.
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.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.
Answer:
Greater competition among producers resulting from Globalisation is a great advantage to consumers as there is greater choice before them. Consumers now enjoy improved quality and lower prices for several products. Due to globalisation many MNCs have increased their investments in India.