Question

what is globalization ? what is the impact of globalization in india ?​

Answer 1

Answer:

#globalization has shut down many small manufacturing units and companies

#but at the same time it has increased the quality of products made by the surviving Indian companies

#it has enhanced the level of competition between companies and has increased the choices provided to consumers over a product.

Globalization has its own negative and positive effects. While the developing countries are forced to remove trade barriers due to their participation in WTO(world trade organization)developed countries have found ways to keep on these barriers. Due to this disadvantage many MNC's set up their manufacturing units in developing countries to reduce labor costs..

Answer 2

Solution :

What is Globalisation ?

Globalisation means integrating the economy of a country with the economics of other countries under conditions of free flow of trade and capital and movement of persons across borders .

                                or

Globalisation is the process of rapid integration or interconnection between countries .

What is the impact of globalisation in India ?

1) Globalisation and greater competition among both local or foreign producers has been advantage to consumers , particularly the well -off sections in urban areas .

2) Greater Choice for Consumer and goods were available of different variety and cheap rates .

3) Increase of the investment of Multi- National Cooperation .

4) It liberating the trade from unwanted government control or restriction .

5) Globalisation has also created new opportunities for  companies providing services , particularly those involving IT .