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Mindmap: Globalisation & the Indian Economy | Social Studies (SST) Class 10 PDF Download
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FAQs on Mindmap: Globalisation & the Indian Economy - Social Studies (SST) Class 10
| 1. What is globalization and how does it impact the Indian economy? |  |
Ans.Globalization refers to the process of increased interconnectedness and interdependence among countries, primarily through trade, investment, and the exchange of ideas and culture. In the context of the Indian economy, globalization has led to greater access to international markets, increased foreign direct investment (FDI), and the expansion of Indian businesses abroad. This has stimulated economic growth, created jobs, and improved living standards, but it has also led to challenges such as income inequality and pressure on local industries.
| 2. How has globalization affected employment in India? | |
Ans.Globalization has had a mixed impact on employment in India. On one hand, it has created millions of jobs in sectors such as IT, manufacturing, and services due to increased foreign investment and the entry of multinational corporations. On the other hand, it has also resulted in job losses in traditional sectors, particularly agriculture, as local businesses struggle to compete with international players. Overall, while new opportunities have emerged, the benefits have not been evenly distributed, leading to varying employment outcomes across different regions and sectors.
| 3. What are the positive and negative effects of globalization on Indian agriculture? | |
Ans.The positive effects of globalization on Indian agriculture include access to global markets, improved agricultural technology, and higher income for farmers who can export their products. However, negative effects include increased competition from imported goods, which can drive down prices for local farmers, and the risk of smallholder farmers being marginalized. Furthermore, the focus on cash crops for export can lead to food insecurity if local food production is neglected.
| 4. How does globalization influence Indian culture and society? | |
Ans.Globalization influences Indian culture and society by promoting the exchange of ideas, values, and lifestyles across borders. This has led to greater exposure to global media, fashion, and cuisines, enriching Indian culture but also leading to concerns about cultural homogenization and the loss of traditional practices. The youth, in particular, are often more influenced by global trends, which can create a generational divide in cultural values and practices.
| 5. What role does government policy play in managing the effects of globalization on the Indian economy? | |
Ans.Government policy plays a crucial role in managing the effects of globalization on the Indian economy by implementing regulations and reforms to ensure that the benefits of globalization are widely shared. This includes creating a favorable environment for foreign investment, supporting local industries, and investing in education and skill development to prepare the workforce for a globalized economy. Additionally, the government may also impose tariffs or quotas to protect certain sectors from excessive foreign competition, balancing the need for open markets with domestic interests.
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