Question

what is the effect of globalisation on small producers and workers? write five points

Answer 1

(i) Small-scale producers have been adversely affected by globalisation because they are not able to compete with MNCs or other big producers.

(ii) These small-scale producers could not keep their cost of production low and hence, they lost their markets.

(iii) Globalisation and the pressure of competition significantly impacted the lives of workers in India. The producers could not sell their commodities at competitive prices and had to lessen production.

(iv) Since the quality and cost of raw materials could not be diminished, exporters tried to lessen their expenditure on labour. Many workers lost their jobs due to this.