Question

What is the impact of globalisation in india economic development of society and culture?

Answer 1

GLOBALIZATION
'Globalization' may means integration of economics and societies through cross country flow of information, thoughts, technologies, goods, services, capital, finance and people.
Now, "Globalization" is a term that has become very popular and used in various contexts (Powell, 2015). Norris (2012) links the definition of globalization to geographical borders. The process of globalization not only includes opening up of world trade, development of advanced means of communication, internationalist ion of financial markets, growing importance of MNCs, population migrations and more generally increased mobility of persons, goods, capital, data and ideas but also infections, diseases and population. The term globalization refers to the integration of economics of the world through uninhibited trade and financial flows, as also through mutual exchange of technology and knowledge. Ideally, it also contains free inter-country movement of labor. In context to India, this implies opening up the economy to foreign direct investment by providing facilities to foreign companies to invest in various fields of economic activity in India.