What is the impact of globalisation on India

Question

Answer

¶¶ Impact of Globalization in India:

i). Stiff competition for local producers and manufacturers.

ii) No job security

iii). Workers are denied their fair share of benefit

iv). Long working hours and low wages to the worker.

v). Expansion of unorganized sector.

vi). New opportunities for IT sector

vii). Increase in investment and foreign trade

Answer

Impact of Globalisation on India

Introduction

Globalisation is a process that has affected the world in a variety of ways, including economic, political, and cultural. It has had a significant impact on India, which has been a key player in the global economy for several decades. In this response, we will explore the impact of globalisation on India in detail.

Economic Impact

Increased Foreign Direct Investment (FDI) - Globalisation has led to an increase in FDI in India, which has resulted in significant economic growth. This has allowed India to develop its infrastructure and create job opportunities.

Increased Trade - Globalisation has also led to an increase in trade, with India becoming a significant player in the global market. This has resulted in increased exports and imports, which has helped to boost the economy.

Outsourcing - Globalisation has led to an increase in outsourcing, with many companies outsourcing their work to India due to its skilled workforce and lower labour costs. This has resulted in the growth of the IT and BPO industries in India.

Competition - Globalisation has also led to increased competition for Indian businesses, which has forced them to become more efficient and innovative in order to remain competitive.

Social Impact

Improved Standard of Living - The economic growth resulting from globalisation has led to an improvement in the standard of living for many Indians, with increased access to education, healthcare, and housing.

Cultural Exchange - Globalisation has also led to increased cultural exchange, with Indian culture becoming more prominent in the global arena. This has helped to promote diversity and understanding among different cultures.

Westernisation - However, globalisation has also led to increased westernisation in India, with many young people adopting western lifestyles and values. This has led to concerns about the erosion of traditional Indian culture.

Political Impact

Increased Diplomatic Relations - Globalisation has led to increased diplomatic relations between India and other countries, which has helped to promote peace and cooperation.

Challenges to Sovereignty - However, globalisation has also led to challenges to India's sovereignty, with increased foreign influence in the country's economic and political affairs.

Environmental Concerns - Globalisation has also resulted in increased environmental concerns, with India facing challenges related to climate change and pollution due to increased economic activity.

Conclusion

In conclusion, globalisation has had a significant impact on India, both positive and negative. While it has led to economic growth and increased cultural exchange, it has also led to challenges related to sovereignty and environmental concerns. It is important for India to continue to navigate the challenges of globalisation while capitalising on its benefits.

Answer

India become a good exporter of goods and also importer of goods from other nations. India has powers among all countries. India has just gone for developed under  developed countries.

Answer

Impacts Of Globalisation In India are:-
• Globalisation made greater competition among producers both local and foreign producers.

• Consumers get improved quality product at lower price.

• MNCs have increased their investment in India.

• Employment opportunities increased.

• Local companies supplying raw materials to MNCs have prospered.

• Globalisation enabled some large Indian companies to emerge as MNCs.

• It has also created new opportunity for companies providing services like IT companies.

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