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Globalisation - impact on Indian Economy - Globalisation & the Indian Economy Video Lecture - Class 10
FAQs on Globalisation - impact on Indian Economy - Globalisation & the Indian Economy Video Lecture - Class 10
| 1. What is the impact of globalisation on the Indian economy? |  |
Ans. Globalisation has had both positive and negative impacts on the Indian economy. On the positive side, it has opened up new avenues for trade and foreign investment, leading to economic growth and job opportunities. It has also allowed Indian companies to expand their reach globally. However, globalisation has also led to increased competition, which has affected certain sectors of the Indian economy, particularly small-scale industries.
| 2. How has globalisation affected the employment scenario in India? | |
Ans. Globalisation has had a significant impact on the employment scenario in India. On one hand, it has created new job opportunities in sectors like IT, BPO, and manufacturing, attracting foreign investments and contributing to economic growth. On the other hand, it has also resulted in job losses in certain sectors due to increased competition and outsourcing. The overall effect of globalisation on employment in India is a topic of debate and depends on various factors.
| 3. Has globalisation led to an increase in income inequality in India? | |
Ans. Yes, globalisation has contributed to income inequality in India. While it has created wealth and opportunities for some, it has also widened the gap between the rich and the poor. Globalisation has led to the growth of the service sector and high-skilled jobs, resulting in increased income for a certain section of the population. However, it has also led to the displacement of workers in traditional sectors and an increase in informal employment, which has further deepened income inequality.
| 4. How has globalisation impacted the agricultural sector in India? | |
Ans. Globalisation has had mixed impacts on the agricultural sector in India. On one hand, it has opened up new markets for agricultural exports, benefiting farmers and boosting the rural economy. It has also led to the introduction of new technologies and improved farming practices. However, globalisation has also exposed Indian farmers to volatile international prices and competition from heavily subsidized farmers in developed countries. This has led to challenges for small and marginal farmers, who face difficulties in accessing credit and modern inputs.
| 5. What are the challenges faced by the Indian economy due to globalisation? | |
Ans. Globalisation has posed various challenges to the Indian economy. Some of the key challenges include increased competition from foreign companies, which can impact domestic industries, particularly small-scale industries. Globalisation has also made the Indian economy vulnerable to external shocks, such as changes in global trade policies or economic downturns in other countries. Additionally, income inequality, job displacement, and environmental concerns are some of the other challenges that the Indian economy has had to grapple with due to globalisation.
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Oct 24, 2024 Last updated |
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