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Page 1 Globalisation and the Indian Economy Flowchart and Word Meanings Page 2 Globalisation and the Indian Economy Flowchart and Word Meanings Production Across Countries Page 3 Globalisation and the Indian Economy Flowchart and Word Meanings Production Across Countries Interlinking Production Across Countries Page 4 Globalisation and the Indian Economy Flowchart and Word Meanings Production Across Countries Interlinking Production Across Countries Foreign Trade and Integration of Markets Page 5 Globalisation and the Indian Economy Flowchart and Word Meanings Production Across Countries Interlinking Production Across Countries Foreign Trade and Integration of Markets What is Globalisation?Read More
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FAQs on Flowcharts & Important Terms: Globalisation and the Indian Economy - Social Studies (SST) Class 10
| 1. What is globalization and how does it affect the Indian economy? |  |
Ans.Globalization refers to the process of increased interconnectedness and interdependence among countries, particularly in terms of trade, investment, technology, and culture. In the context of the Indian economy, globalization has led to greater foreign investment, increased competition, and access to international markets. This has resulted in economic growth, job creation, but also challenges such as income inequality and the impact on local industries.
| 2. What are the key benefits of globalization for India? | |
Ans.The key benefits of globalization for India include enhanced economic growth, access to foreign technology and investment, increased exports, and the creation of job opportunities. It has also facilitated the exchange of ideas and cultural practices, contributing to a more dynamic and diverse economy.
| 3. What are some challenges faced by the Indian economy due to globalization? | |
Ans.Some challenges faced by the Indian economy due to globalization include increased competition leading to the potential decline of local industries, job displacement in traditional sectors, and widening income inequality. Additionally, there are concerns regarding the environmental impact and the cultural homogenization that may accompany foreign influences.
| 4. How has globalization influenced India's agricultural sector? | |
Ans.Globalization has had a significant impact on India's agricultural sector by introducing new technologies, practices, and access to international markets. While this has led to increased productivity and diversification of crops, it has also exposed farmers to global price fluctuations and competition, which can sometimes threaten their livelihoods.
| 5. What role does the government play in managing the effects of globalization on the Indian economy? | |
Ans.The government plays a crucial role in managing the effects of globalization on the Indian economy by implementing policies that promote fair trade, protect local industries, and support workforce development. It also focuses on enhancing infrastructure, ensuring social safety nets, and creating a regulatory framework that addresses environmental concerns while fostering economic growth.
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