what is globalization in Indian perspective?how India will be beneficial if of it.explain critically 250 wards
Answers
What is Globalisation?
The term Globalisation refers to the integration of the economy of the nation with the world economy; it is a multifaceted aspect. It is a result of the collection of multiple strategies that are directed at transforming the world towards greater interdependence and integration. It includes the creation of networks and pursuits transforming social, economic and geographical barriers.
Globalisation tries to build links in such a way that the events in India can be determined by events happening distances away.
Advantages of Globalisation in India
Increase in Employment:
With the opportunity of Special Economic Zones (SEZ), there is an increase in the number of new jobs availability. Including Export Processing Zones (EPZ) Centre in India is very useful in employing thousands of people. Another additional factor in India is cheap labour. This feature motivates big companies in the west to outsource employees from other region and cause more employment.
Increase in Compensation:
After Globalisation, the level of compensation has increased as compared to domestic companies due to the skill and knowledge a foreign company offers. This opportunity also emerged as an alteration of the management structure.
High Standard of Living:
With the outbreak of Globalisation, the Indian economy and the standard of living of an individual has increased. This change is notified with the purchasing behaviour of a person, especially with those who are associated with foreign companies. Hence, many cities are undergoing a better standard of living along with business development.
Have a nice day mate ^_^