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Read the following passage carefully and answer the questions given below it.Nobel prize winner Joseph E. Stiglitz, described “globalization as a double-edged sword”. For those willing to seize the opportunities and manage globalization on their own terms, it has provided the basis of unprecedented growth.“Taking full advantage of globalization India has managed a historically unprecedented growth rate for more than a decade and a half. Following the Washington consensus in the last quarter of 20th century, international institutions including the World Bank and the International Monetary Fund mounted a sustained campaign to push liberalization of national economies and privatization of their public sector. Empirical studies have amply demonstrated that the benefits of the globalization have not been shared by all the countries. Even in the same country, the benefits arising out of globalization have not filtered to the various strata of the population and disparities have widened. Thus, there are transparent inequalities amongst the countries as also within the same country. India is no exception to the latter. In most of the poorer countries in Africa growth rates have not registered any improvements and the number of people below the poverty line has in some cases doubled. Moreover, there is the reluctance of developed countries in removing the trade-distorting subsidies in agriculture and giving duty-free market access to the least developed countries with very limited exportable products.The issue is how has India reaped benefits of globalization? To assume that economic, fiscal, trade and allied policies initiated by the government created an environment which facilitated economic advancement on these fronts will amount to manipulation of ground realities. The foremost factor which engineered the growth in India was the emergence of a self-reliant middle class equipped with strong knowledge base with technical qualifications. They pursued innovative businesses requiring managerial and technical skills in the upcoming sectors like information technology and other allied fields. Instead of the traditional industry-led growth path followed by the west and other developing countries, India opted for services-led growth which had visible, tangible results. In the manufacturing sector, technological innovation, low-cost production, ability to quickly adapt to changes, establishing world-class R & D facilities, etc., greatly helped in successfully meeting global competition. The automobile industry is a classic example. The strong presence of Non-Resident Indians (NRIs) in the developed countries occupying senior management positions in several multinational corporations built confidence in Indian managerial competence and leadership. This promoted MNC s’ networking with India (as also in China) with its expanding domestic market which in the present circumstances remained the only viable option for their sustained growth in the future. The success stories of business controlled by NRIs in the western markets established India’s reputation as a dependable and disciplined businessman. The well established democratic political framework, large young population ingrained with the absorption capacity of new technologies have all created a responsive realization that India is marching ahead. The initiative largely of its private sector in expanding connectively by improved telecommunication, low-cost air transportation, and vast press. TV and other media penetration ignited awareness amongst all sections of its people of a bright future and thus radically changed their perception, thinking, and actions. Furthermore, the entire world took note of unexploited potentials of India is becoming a competitive center of excellence and cost-efficiency.Q. What changed the global perception of the Indian economy?a)Removal of trade distorting subsidiesb)Expanding upper middle class with higher purchasing powerc)Increased mergers and acquisitions of the Indian and foreign firmsd)WTO membership for IndiaCorrect answer is option 'C'. Can you explain this answer? for CTET & State TET 2024 is part of CTET & State TET preparation. The Question and answers have been prepared according to the CTET & State TET exam syllabus. Information about Read the following passage carefully and answer the questions given below it.Nobel prize winner Joseph E. Stiglitz, described “globalization as a double-edged sword”. For those willing to seize the opportunities and manage globalization on their own terms, it has provided the basis of unprecedented growth.“Taking full advantage of globalization India has managed a historically unprecedented growth rate for more than a decade and a half. Following the Washington consensus in the last quarter of 20th century, international institutions including the World Bank and the International Monetary Fund mounted a sustained campaign to push liberalization of national economies and privatization of their public sector. Empirical studies have amply demonstrated that the benefits of the globalization have not been shared by all the countries. Even in the same country, the benefits arising out of globalization have not filtered to the various strata of the population and disparities have widened. Thus, there are transparent inequalities amongst the countries as also within the same country. India is no exception to the latter. In most of the poorer countries in Africa growth rates have not registered any improvements and the number of people below the poverty line has in some cases doubled. Moreover, there is the reluctance of developed countries in removing the trade-distorting subsidies in agriculture and giving duty-free market access to the least developed countries with very limited exportable products.The issue is how has India reaped benefits of globalization? To assume that economic, fiscal, trade and allied policies initiated by the government created an environment which facilitated economic advancement on these fronts will amount to manipulation of ground realities. The foremost factor which engineered the growth in India was the emergence of a self-reliant middle class equipped with strong knowledge base with technical qualifications. They pursued innovative businesses requiring managerial and technical skills in the upcoming sectors like information technology and other allied fields. Instead of the traditional industry-led growth path followed by the west and other developing countries, India opted for services-led growth which had visible, tangible results. In the manufacturing sector, technological innovation, low-cost production, ability to quickly adapt to changes, establishing world-class R & D facilities, etc., greatly helped in successfully meeting global competition. The automobile industry is a classic example. The strong presence of Non-Resident Indians (NRIs) in the developed countries occupying senior management positions in several multinational corporations built confidence in Indian managerial competence and leadership. This promoted MNC s’ networking with India (as also in China) with its expanding domestic market which in the present circumstances remained the only viable option for their sustained growth in the future. The success stories of business controlled by NRIs in the western markets established India’s reputation as a dependable and disciplined businessman. The well established democratic political framework, large young population ingrained with the absorption capacity of new technologies have all created a responsive realization that India is marching ahead. The initiative largely of its private sector in expanding connectively by improved telecommunication, low-cost air transportation, and vast press. TV and other media penetration ignited awareness amongst all sections of its people of a bright future and thus radically changed their perception, thinking, and actions. Furthermore, the entire world took note of unexploited potentials of India is becoming a competitive center of excellence and cost-efficiency.Q. What changed the global perception of the Indian economy?a)Removal of trade distorting subsidiesb)Expanding upper middle class with higher purchasing powerc)Increased mergers and acquisitions of the Indian and foreign firmsd)WTO membership for IndiaCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CTET & State TET 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the following passage carefully and answer the questions given below it.Nobel prize winner Joseph E. Stiglitz, described “globalization as a double-edged sword”. For those willing to seize the opportunities and manage globalization on their own terms, it has provided the basis of unprecedented growth.“Taking full advantage of globalization India has managed a historically unprecedented growth rate for more than a decade and a half. Following the Washington consensus in the last quarter of 20th century, international institutions including the World Bank and the International Monetary Fund mounted a sustained campaign to push liberalization of national economies and privatization of their public sector. Empirical studies have amply demonstrated that the benefits of the globalization have not been shared by all the countries. Even in the same country, the benefits arising out of globalization have not filtered to the various strata of the population and disparities have widened. Thus, there are transparent inequalities amongst the countries as also within the same country. India is no exception to the latter. In most of the poorer countries in Africa growth rates have not registered any improvements and the number of people below the poverty line has in some cases doubled. Moreover, there is the reluctance of developed countries in removing the trade-distorting subsidies in agriculture and giving duty-free market access to the least developed countries with very limited exportable products.The issue is how has India reaped benefits of globalization? To assume that economic, fiscal, trade and allied policies initiated by the government created an environment which facilitated economic advancement on these fronts will amount to manipulation of ground realities. The foremost factor which engineered the growth in India was the emergence of a self-reliant middle class equipped with strong knowledge base with technical qualifications. They pursued innovative businesses requiring managerial and technical skills in the upcoming sectors like information technology and other allied fields. Instead of the traditional industry-led growth path followed by the west and other developing countries, India opted for services-led growth which had visible, tangible results. In the manufacturing sector, technological innovation, low-cost production, ability to quickly adapt to changes, establishing world-class R & D facilities, etc., greatly helped in successfully meeting global competition. The automobile industry is a classic example. The strong presence of Non-Resident Indians (NRIs) in the developed countries occupying senior management positions in several multinational corporations built confidence in Indian managerial competence and leadership. This promoted MNC s’ networking with India (as also in China) with its expanding domestic market which in the present circumstances remained the only viable option for their sustained growth in the future. The success stories of business controlled by NRIs in the western markets established India’s reputation as a dependable and disciplined businessman. The well established democratic political framework, large young population ingrained with the absorption capacity of new technologies have all created a responsive realization that India is marching ahead. The initiative largely of its private sector in expanding connectively by improved telecommunication, low-cost air transportation, and vast press. TV and other media penetration ignited awareness amongst all sections of its people of a bright future and thus radically changed their perception, thinking, and actions. Furthermore, the entire world took note of unexploited potentials of India is becoming a competitive center of excellence and cost-efficiency.Q. What changed the global perception of the Indian economy?a)Removal of trade distorting subsidiesb)Expanding upper middle class with higher purchasing powerc)Increased mergers and acquisitions of the Indian and foreign firmsd)WTO membership for IndiaCorrect answer is option 'C'. Can you explain this answer?.

Solutions for Read the following passage carefully and answer the questions given below it.Nobel prize winner Joseph E. Stiglitz, described “globalization as a double-edged sword”. For those willing to seize the opportunities and manage globalization on their own terms, it has provided the basis of unprecedented growth.“Taking full advantage of globalization India has managed a historically unprecedented growth rate for more than a decade and a half. Following the Washington consensus in the last quarter of 20th century, international institutions including the World Bank and the International Monetary Fund mounted a sustained campaign to push liberalization of national economies and privatization of their public sector. Empirical studies have amply demonstrated that the benefits of the globalization have not been shared by all the countries. Even in the same country, the benefits arising out of globalization have not filtered to the various strata of the population and disparities have widened. Thus, there are transparent inequalities amongst the countries as also within the same country. India is no exception to the latter. In most of the poorer countries in Africa growth rates have not registered any improvements and the number of people below the poverty line has in some cases doubled. Moreover, there is the reluctance of developed countries in removing the trade-distorting subsidies in agriculture and giving duty-free market access to the least developed countries with very limited exportable products.The issue is how has India reaped benefits of globalization? To assume that economic, fiscal, trade and allied policies initiated by the government created an environment which facilitated economic advancement on these fronts will amount to manipulation of ground realities. The foremost factor which engineered the growth in India was the emergence of a self-reliant middle class equipped with strong knowledge base with technical qualifications. They pursued innovative businesses requiring managerial and technical skills in the upcoming sectors like information technology and other allied fields. Instead of the traditional industry-led growth path followed by the west and other developing countries, India opted for services-led growth which had visible, tangible results. In the manufacturing sector, technological innovation, low-cost production, ability to quickly adapt to changes, establishing world-class R & D facilities, etc., greatly helped in successfully meeting global competition. The automobile industry is a classic example. The strong presence of Non-Resident Indians (NRIs) in the developed countries occupying senior management positions in several multinational corporations built confidence in Indian managerial competence and leadership. This promoted MNC s’ networking with India (as also in China) with its expanding domestic market which in the present circumstances remained the only viable option for their sustained growth in the future. The success stories of business controlled by NRIs in the western markets established India’s reputation as a dependable and disciplined businessman. The well established democratic political framework, large young population ingrained with the absorption capacity of new technologies have all created a responsive realization that India is marching ahead. The initiative largely of its private sector in expanding connectively by improved telecommunication, low-cost air transportation, and vast press. TV and other media penetration ignited awareness amongst all sections of its people of a bright future and thus radically changed their perception, thinking, and actions. Furthermore, the entire world took note of unexploited potentials of India is becoming a competitive center of excellence and cost-efficiency.Q. What changed the global perception of the Indian economy?a)Removal of trade distorting subsidiesb)Expanding upper middle class with higher purchasing powerc)Increased mergers and acquisitions of the Indian and foreign firmsd)WTO membership for IndiaCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CTET & State TET. Download more important topics, notes, lectures and mock test series for CTET & State TET Exam by signing up for free.

Here you can find the meaning of Read the following passage carefully and answer the questions given below it.Nobel prize winner Joseph E. Stiglitz, described “globalization as a double-edged sword”. For those willing to seize the opportunities and manage globalization on their own terms, it has provided the basis of unprecedented growth.“Taking full advantage of globalization India has managed a historically unprecedented growth rate for more than a decade and a half. Following the Washington consensus in the last quarter of 20th century, international institutions including the World Bank and the International Monetary Fund mounted a sustained campaign to push liberalization of national economies and privatization of their public sector. Empirical studies have amply demonstrated that the benefits of the globalization have not been shared by all the countries. Even in the same country, the benefits arising out of globalization have not filtered to the various strata of the population and disparities have widened. Thus, there are transparent inequalities amongst the countries as also within the same country. India is no exception to the latter. In most of the poorer countries in Africa growth rates have not registered any improvements and the number of people below the poverty line has in some cases doubled. Moreover, there is the reluctance of developed countries in removing the trade-distorting subsidies in agriculture and giving duty-free market access to the least developed countries with very limited exportable products.The issue is how has India reaped benefits of globalization? To assume that economic, fiscal, trade and allied policies initiated by the government created an environment which facilitated economic advancement on these fronts will amount to manipulation of ground realities. The foremost factor which engineered the growth in India was the emergence of a self-reliant middle class equipped with strong knowledge base with technical qualifications. They pursued innovative businesses requiring managerial and technical skills in the upcoming sectors like information technology and other allied fields. Instead of the traditional industry-led growth path followed by the west and other developing countries, India opted for services-led growth which had visible, tangible results. In the manufacturing sector, technological innovation, low-cost production, ability to quickly adapt to changes, establishing world-class R & D facilities, etc., greatly helped in successfully meeting global competition. The automobile industry is a classic example. The strong presence of Non-Resident Indians (NRIs) in the developed countries occupying senior management positions in several multinational corporations built confidence in Indian managerial competence and leadership. This promoted MNC s’ networking with India (as also in China) with its expanding domestic market which in the present circumstances remained the only viable option for their sustained growth in the future. The success stories of business controlled by NRIs in the western markets established India’s reputation as a dependable and disciplined businessman. The well established democratic political framework, large young population ingrained with the absorption capacity of new technologies have all created a responsive realization that India is marching ahead. The initiative largely of its private sector in expanding connectively by improved telecommunication, low-cost air transportation, and vast press. TV and other media penetration ignited awareness amongst all sections of its people of a bright future and thus radically changed their perception, thinking, and actions. Furthermore, the entire world took note of unexploited potentials of India is becoming a competitive center of excellence and cost-efficiency.Q. What changed the global perception of the Indian economy?a)Removal of trade distorting subsidiesb)Expanding upper middle class with higher purchasing powerc)Increased mergers and acquisitions of the Indian and foreign firmsd)WTO membership for IndiaCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Read the following passage carefully and answer the questions given below it.Nobel prize winner Joseph E. Stiglitz, described “globalization as a double-edged sword”. For those willing to seize the opportunities and manage globalization on their own terms, it has provided the basis of unprecedented growth.“Taking full advantage of globalization India has managed a historically unprecedented growth rate for more than a decade and a half. Following the Washington consensus in the last quarter of 20th century, international institutions including the World Bank and the International Monetary Fund mounted a sustained campaign to push liberalization of national economies and privatization of their public sector. Empirical studies have amply demonstrated that the benefits of the globalization have not been shared by all the countries. Even in the same country, the benefits arising out of globalization have not filtered to the various strata of the population and disparities have widened. Thus, there are transparent inequalities amongst the countries as also within the same country. India is no exception to the latter. In most of the poorer countries in Africa growth rates have not registered any improvements and the number of people below the poverty line has in some cases doubled. Moreover, there is the reluctance of developed countries in removing the trade-distorting subsidies in agriculture and giving duty-free market access to the least developed countries with very limited exportable products.The issue is how has India reaped benefits of globalization? To assume that economic, fiscal, trade and allied policies initiated by the government created an environment which facilitated economic advancement on these fronts will amount to manipulation of ground realities. The foremost factor which engineered the growth in India was the emergence of a self-reliant middle class equipped with strong knowledge base with technical qualifications. They pursued innovative businesses requiring managerial and technical skills in the upcoming sectors like information technology and other allied fields. Instead of the traditional industry-led growth path followed by the west and other developing countries, India opted for services-led growth which had visible, tangible results. In the manufacturing sector, technological innovation, low-cost production, ability to quickly adapt to changes, establishing world-class R & D facilities, etc., greatly helped in successfully meeting global competition. The automobile industry is a classic example. The strong presence of Non-Resident Indians (NRIs) in the developed countries occupying senior management positions in several multinational corporations built confidence in Indian managerial competence and leadership. This promoted MNC s’ networking with India (as also in China) with its expanding domestic market which in the present circumstances remained the only viable option for their sustained growth in the future. The success stories of business controlled by NRIs in the western markets established India’s reputation as a dependable and disciplined businessman. The well established democratic political framework, large young population ingrained with the absorption capacity of new technologies have all created a responsive realization that India is marching ahead. The initiative largely of its private sector in expanding connectively by improved telecommunication, low-cost air transportation, and vast press. TV and other media penetration ignited awareness amongst all sections of its people of a bright future and thus radically changed their perception, thinking, and actions. Furthermore, the entire world took note of unexploited potentials of India is becoming a competitive center of excellence and cost-efficiency.Q. What changed the global perception of the Indian economy?a)Removal of trade distorting subsidiesb)Expanding upper middle class with higher purchasing powerc)Increased mergers and acquisitions of the Indian and foreign firmsd)WTO membership for IndiaCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Read the following passage carefully and answer the questions given below it.Nobel prize winner Joseph E. Stiglitz, described “globalization as a double-edged sword”. For those willing to seize the opportunities and manage globalization on their own terms, it has provided the basis of unprecedented growth.“Taking full advantage of globalization India has managed a historically unprecedented growth rate for more than a decade and a half. Following the Washington consensus in the last quarter of 20th century, international institutions including the World Bank and the International Monetary Fund mounted a sustained campaign to push liberalization of national economies and privatization of their public sector. Empirical studies have amply demonstrated that the benefits of the globalization have not been shared by all the countries. Even in the same country, the benefits arising out of globalization have not filtered to the various strata of the population and disparities have widened. Thus, there are transparent inequalities amongst the countries as also within the same country. India is no exception to the latter. In most of the poorer countries in Africa growth rates have not registered any improvements and the number of people below the poverty line has in some cases doubled. Moreover, there is the reluctance of developed countries in removing the trade-distorting subsidies in agriculture and giving duty-free market access to the least developed countries with very limited exportable products.The issue is how has India reaped benefits of globalization? To assume that economic, fiscal, trade and allied policies initiated by the government created an environment which facilitated economic advancement on these fronts will amount to manipulation of ground realities. The foremost factor which engineered the growth in India was the emergence of a self-reliant middle class equipped with strong knowledge base with technical qualifications. They pursued innovative businesses requiring managerial and technical skills in the upcoming sectors like information technology and other allied fields. Instead of the traditional industry-led growth path followed by the west and other developing countries, India opted for services-led growth which had visible, tangible results. In the manufacturing sector, technological innovation, low-cost production, ability to quickly adapt to changes, establishing world-class R & D facilities, etc., greatly helped in successfully meeting global competition. The automobile industry is a classic example. The strong presence of Non-Resident Indians (NRIs) in the developed countries occupying senior management positions in several multinational corporations built confidence in Indian managerial competence and leadership. This promoted MNC s’ networking with India (as also in China) with its expanding domestic market which in the present circumstances remained the only viable option for their sustained growth in the future. The success stories of business controlled by NRIs in the western markets established India’s reputation as a dependable and disciplined businessman. The well established democratic political framework, large young population ingrained with the absorption capacity of new technologies have all created a responsive realization that India is marching ahead. The initiative largely of its private sector in expanding connectively by improved telecommunication, low-cost air transportation, and vast press. TV and other media penetration ignited awareness amongst all sections of its people of a bright future and thus radically changed their perception, thinking, and actions. Furthermore, the entire world took note of unexploited potentials of India is becoming a competitive center of excellence and cost-efficiency.Q. What changed the global perception of the Indian economy?a)Removal of trade distorting subsidiesb)Expanding upper middle class with higher purchasing powerc)Increased mergers and acquisitions of the Indian and foreign firmsd)WTO membership for IndiaCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Read the following passage carefully and answer the questions given below it.Nobel prize winner Joseph E. Stiglitz, described “globalization as a double-edged sword”. For those willing to seize the opportunities and manage globalization on their own terms, it has provided the basis of unprecedented growth.“Taking full advantage of globalization India has managed a historically unprecedented growth rate for more than a decade and a half. Following the Washington consensus in the last quarter of 20th century, international institutions including the World Bank and the International Monetary Fund mounted a sustained campaign to push liberalization of national economies and privatization of their public sector. Empirical studies have amply demonstrated that the benefits of the globalization have not been shared by all the countries. Even in the same country, the benefits arising out of globalization have not filtered to the various strata of the population and disparities have widened. Thus, there are transparent inequalities amongst the countries as also within the same country. India is no exception to the latter. In most of the poorer countries in Africa growth rates have not registered any improvements and the number of people below the poverty line has in some cases doubled. Moreover, there is the reluctance of developed countries in removing the trade-distorting subsidies in agriculture and giving duty-free market access to the least developed countries with very limited exportable products.The issue is how has India reaped benefits of globalization? To assume that economic, fiscal, trade and allied policies initiated by the government created an environment which facilitated economic advancement on these fronts will amount to manipulation of ground realities. The foremost factor which engineered the growth in India was the emergence of a self-reliant middle class equipped with strong knowledge base with technical qualifications. They pursued innovative businesses requiring managerial and technical skills in the upcoming sectors like information technology and other allied fields. Instead of the traditional industry-led growth path followed by the west and other developing countries, India opted for services-led growth which had visible, tangible results. In the manufacturing sector, technological innovation, low-cost production, ability to quickly adapt to changes, establishing world-class R & D facilities, etc., greatly helped in successfully meeting global competition. The automobile industry is a classic example. The strong presence of Non-Resident Indians (NRIs) in the developed countries occupying senior management positions in several multinational corporations built confidence in Indian managerial competence and leadership. This promoted MNC s’ networking with India (as also in China) with its expanding domestic market which in the present circumstances remained the only viable option for their sustained growth in the future. The success stories of business controlled by NRIs in the western markets established India’s reputation as a dependable and disciplined businessman. The well established democratic political framework, large young population ingrained with the absorption capacity of new technologies have all created a responsive realization that India is marching ahead. The initiative largely of its private sector in expanding connectively by improved telecommunication, low-cost air transportation, and vast press. TV and other media penetration ignited awareness amongst all sections of its people of a bright future and thus radically changed their perception, thinking, and actions. Furthermore, the entire world took note of unexploited potentials of India is becoming a competitive center of excellence and cost-efficiency.Q. What changed the global perception of the Indian economy?a)Removal of trade distorting subsidiesb)Expanding upper middle class with higher purchasing powerc)Increased mergers and acquisitions of the Indian and foreign firmsd)WTO membership for IndiaCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Read the following passage carefully and answer the questions given below it.Nobel prize winner Joseph E. Stiglitz, described “globalization as a double-edged sword”. For those willing to seize the opportunities and manage globalization on their own terms, it has provided the basis of unprecedented growth.“Taking full advantage of globalization India has managed a historically unprecedented growth rate for more than a decade and a half. Following the Washington consensus in the last quarter of 20th century, international institutions including the World Bank and the International Monetary Fund mounted a sustained campaign to push liberalization of national economies and privatization of their public sector. Empirical studies have amply demonstrated that the benefits of the globalization have not been shared by all the countries. Even in the same country, the benefits arising out of globalization have not filtered to the various strata of the population and disparities have widened. Thus, there are transparent inequalities amongst the countries as also within the same country. India is no exception to the latter. In most of the poorer countries in Africa growth rates have not registered any improvements and the number of people below the poverty line has in some cases doubled. Moreover, there is the reluctance of developed countries in removing the trade-distorting subsidies in agriculture and giving duty-free market access to the least developed countries with very limited exportable products.The issue is how has India reaped benefits of globalization? To assume that economic, fiscal, trade and allied policies initiated by the government created an environment which facilitated economic advancement on these fronts will amount to manipulation of ground realities. The foremost factor which engineered the growth in India was the emergence of a self-reliant middle class equipped with strong knowledge base with technical qualifications. They pursued innovative businesses requiring managerial and technical skills in the upcoming sectors like information technology and other allied fields. Instead of the traditional industry-led growth path followed by the west and other developing countries, India opted for services-led growth which had visible, tangible results. In the manufacturing sector, technological innovation, low-cost production, ability to quickly adapt to changes, establishing world-class R & D facilities, etc., greatly helped in successfully meeting global competition. The automobile industry is a classic example. The strong presence of Non-Resident Indians (NRIs) in the developed countries occupying senior management positions in several multinational corporations built confidence in Indian managerial competence and leadership. This promoted MNC s’ networking with India (as also in China) with its expanding domestic market which in the present circumstances remained the only viable option for their sustained growth in the future. The success stories of business controlled by NRIs in the western markets established India’s reputation as a dependable and disciplined businessman. The well established democratic political framework, large young population ingrained with the absorption capacity of new technologies have all created a responsive realization that India is marching ahead. The initiative largely of its private sector in expanding connectively by improved telecommunication, low-cost air transportation, and vast press. TV and other media penetration ignited awareness amongst all sections of its people of a bright future and thus radically changed their perception, thinking, and actions. Furthermore, the entire world took note of unexploited potentials of India is becoming a competitive center of excellence and cost-efficiency.Q. What changed the global perception of the Indian economy?a)Removal of trade distorting subsidiesb)Expanding upper middle class with higher purchasing powerc)Increased mergers and acquisitions of the Indian and foreign firmsd)WTO membership for IndiaCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice CTET & State TET tests.