What was the impact if globalization on Indian economy?
Answers
Answer:
- Several top Indian companies have been able to benefit from the Globalisation
- They have invested newer technology and production methods and raised their production standards
- Some have gained from successful collaborations with foreign companies
- The benefits of globalisation have been unevenly distributed
- Consumers now enjoy improved quality and lower prices for several products
- People enjoy higher standards of living than was possible earlier
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Humans have moved into a phase where everything is accessible without any difficulty. What if you weren’t able to buy goods from an online site managed by an international brand? It might make you feel angry, or irritated. The world wasn’t always open to free trade or cross-border investments. It was around two to three decades ago when the concept of ‘globalization’ was spread far and wide. This allowed nations to carry out trade and other activities in a systematic manner.
India was one of the prime nations which gained immensely post the introduction & implementation of globalization. The rise of foreign investment in the retail, corporate and scientific sectors is very much evident in the nation. For further learning about globalization and India, it is crucial to get familiar with the prime concept, that is, globalization.