what is the impact of globalisation on the richer section of society in urban India
Answers
Liberalization, privatisation, globablization also known as the LPG reforms were the major reforms in the 1990s which resulting in the opening of the economy, removal of trade barriers and reduction of capital control. The post globalization era has marked many changes in the society and the economy.
It has had the following effects on various sections in the society :
1. Creation of greater job opportunities in mostly the skilled sector. This change has predominantly helped the educated middle class in getting jobs.
2. This has also resulted in making women financially independent in the urban areas. However, this again is limited to the educated class.
3. Has resulted in migration to urban centers. Widespread migration of unskilled laborers has resulted in overpopulated slums. Hence, leading to poor standard of living and poor well being of the laborers.
4. Migration of the youth and creation of more individualistic nuclear families has adversely affected the elderly population. The aged, the most vulnerable group, are hence, left to fend for themselves.
5. The children in belonging to the urban educated class gets less parental attention. Cases of depression are on the rise in such children because of lack of emotional support from parents.
6. The shift from labor intensive to technical processes has affected the unskilled laborers in getting jobs. Most end up getting paltry pay for labor intensive work. This is mostly caused due to lack of cheap vocational training.
7. Has adversely affected the owners of small enterprises and factories. They were not able to compete against the cheap manufactured goods especially from China,hence, rendering their factories uneconomical.
Thus, globalization has had its own share of positive and negative effects. It has caused increased disparity between the skilled and the unskilled and resulted in inequitable distribution of resources. The government should undertake initiatives to open cheap vocational training centers to impart skills to the unskilled so that they too reap the benefits of globalization.
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Answer:
The Impact of Globalization on the richer sections of society in urban areas in India is as follows:
Explanation:
1. After Globalization, they could turn their local company into an MNC by setting their production units in foreign countries, this would not be very difficult for them as they already have the funds to do so.,
2. By doing this, they expanded their goods and services in global market.
3. They got new technology by globalization which increased their efficiency for production.