Write a short note on
:- Factors that led to Globalisation in India
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Answer:
FACTORS ENABLING GLOBALISATION - DEFINITION
(i) Technology: Rapid improvement in technology has been one major factor that has stimulated the globalisation process.
(ii) Trade barrier: Tax on imports is an example of trade barrier. It is called a barrier because some restriction has been setup.
(iii) Liberalisation: Removing barriers or restrictions set by the government is what is known as liberalisation. With liberalisation of trade, businesses are allowed to make decisions freely about what they wish to import or export.
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Answer:
A variety of factors have contributed to the process of globalisation. Globalisation means unification or integration of the domestic economy with the world economy through trade, capital and technological flows. Factors that supported globalisation in India are as follows :
(a) Reduction of trade barriers with a view to allowing free flow of goods to and from other countries.
(b) Involvement of various local producers with MNCs in various ways.
(c) Some of the large Indian companies like Tata Motors, Infosys (IT), Ranbaxy, Asian Paints etc. emerged as MNCs and start working globally.