Question

what is globalization? write any 2 positive as well as negative impact of globalization on india economy

Answer 1

Globalization has become one of the most debated subjects of recent times. It has been hailed as one of the best things to happen to the world by its proponents, while opponents have labeled it as neo-imperialism. Despite its challenges, the positive role it has played in changing the lives of millions of people around the world is commendable.

 OpinionFront Staff

 Last Updated: Mar 26, 2018



Globalization has changed us into a company that searches the world, not just to sell or to source, but to find intellectual capital - the world's best talents and greatest ideas.
- Jack Welch

Although there are a host of challenges associated with globalization, it has numerous positive effects as well. Anti-globalization crusaders who represent issues such as environmental degradation, economic inequality, loss of jobs in the host country etc., have made their presence felt at various global conferences. The issues that they raise are real and can have catastrophic effects if not tackled earnestly. However, the advantages of globalization are all-pervasive and a lot of developing countries are benefiting from it. As the subject of this article pertains to the positive effects of globalization, we will focus on the positive changes it has brought to the world - both economically and culturally, and how it can very well become one of the defining factors of the present century.

Benefits of Globalization

Increased Competition



One of the most visible effects is the improved quality of products due to global competition. Customer service and the 'customer is the king' approach to production have led to improved quality of products and services. As domestic companies have to fight out foreign competition, they are compelled to raise their standards and customer satisfaction levels in order to survive in the market. Besides, when a global brand enters a new country, it comes in riding on some goodwill, which it has to live up to. This creates competition in the market and a 'survival of the fittest' situation.

Employment



With globalization, companies have forayed into the developing countries and hence generated employment for them. But it can turn out to be either good or bad, depending on the point of view you wish to see it from. It has given an opportunity to invest in the emerging markets and tap the talent which is available there. In developing countries, there is often a lack of capital which hinders the growth of domestic companies and hence, employment. In such cases, due to global nature of the businesses, people of developing countries too can obtain gainful employment opportunities. But the developed countries have lost jobs on account of this shift of jobs to the developing world and hence it is a pinch felt by people in the First World.

Investment and Capital Flows



A lot of companies have directly invested in developing countries like Brazil and India by starting production units, but what we also need to see is the amount of Foreign Direct Investment (FDI) that flows into the developing countries. Companies which perform well attract a lot of foreign investment and thus push

Answer 2

globalization is actually a process in ehich urbanisation too go with progress.
advantages:
1 transport facility availablity.
2 new n improved infrastructure facility.

disadvantages:
1 pollution
2 poors r becoming more poor.they have to bear a great loss .