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Globalisation & the Indian Economy Video Lecture | NCERT Video Summary: Class 6 to Class 12 (English) - UPSC
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FAQs on Globalisation & the Indian Economy Video Lecture - NCERT Video Summary: Class 6 to Class 12 (English) - UPSC
| 1. What is globalisation and how does it impact the Indian economy? |  |
Ans. Globalisation refers to the increasing interconnectedness and integration of countries through the exchange of goods, services, capital, and information. In the context of the Indian economy, globalisation has had both positive and negative impacts. On one hand, it has opened up new markets for Indian goods and services, increased foreign direct investment, and promoted technological advancements. On the other hand, it has also led to increased competition, job displacement in certain sectors, and vulnerability to global economic fluctuations.
| 2. How has globalisation affected the employment scenario in India? | |
Ans. Globalisation has had a mixed impact on employment in India. While it has created new job opportunities in sectors like information technology, business process outsourcing, and export-oriented industries, it has also led to job losses in certain traditional sectors. The increased competition from global players and the need to adopt cost-cutting measures have sometimes resulted in downsizing and rationalization of the workforce. However, it is important to note that globalisation has also spurred job creation through the growth of new industries and the expansion of existing ones.
| 3. What role does globalisation play in the growth of the Indian manufacturing sector? | |
Ans. Globalisation has played a significant role in the growth of the Indian manufacturing sector. It has facilitated access to global markets, technology transfer, and inflow of foreign direct investment, which have contributed to the expansion and modernization of the sector. Globalisation has also led to the emergence of Indian companies as global players in certain industries. However, challenges such as competition from low-cost manufacturing countries and the need to improve infrastructure and ease of doing business still exist and need to be addressed for sustained growth.
| 4. What are the benefits and challenges of globalisation for the Indian agricultural sector? | |
Ans. Globalisation has brought both benefits and challenges for the Indian agricultural sector. On the positive side, it has opened up new export markets for agricultural products, facilitated access to advanced farming techniques and technologies, and increased agricultural productivity. However, it has also exposed Indian farmers to global price fluctuations and competition from highly subsidized agricultural products of developed countries. Additionally, the unequal distribution of benefits and the need for better infrastructure, marketing networks, and risk management mechanisms remain significant challenges.
| 5. How has globalisation impacted the income inequality in India? | |
Ans. Globalisation has had a mixed impact on income inequality in India. On one hand, it has led to the creation of new opportunities for higher-skilled workers, leading to an increase in their income. On the other hand, it has also widened the income gap between skilled and unskilled workers, as well as between urban and rural areas. The increased competition and changes in the labor market dynamics have often resulted in wage stagnation for low-skilled workers, while those with higher skills and education have been able to benefit from the opportunities created by globalisation.
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Nov 16, 2024 Last updated |
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