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Globalisation and Social Change
Question
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Discuss India's economic policy of liberalization.

Answer

  1. The term liberalisation refers to a range of policy decisions that the Indian state took since 1991 to open up the Indian economy to the world market.
  2. The state after independence had put in place a large number of laws that ensured that the Indian market and Indian indigenous business were protected from competition of the wider world.
  3. Liberalisation of the economy meant the steady removal of the rules that regulated Indian trade and finance regulations. These measures are also described as economic reforms.
  4. The process of liberalisation also involved the taking of loans from international institutions such as the International Monetary Fund (IMF). These loans are given on certain conditions.
  5. The Indian economy has witnessed a series of reforms in all major sectors of the economy like: agriculture, industry, trade, foreign investment and technology,
    public sector, financial institutions etc.
  6. There has been reduction in tariffs and import duties so that foreign goods can be imported easily and allowing easier access for foreign companies to set up industries in India.

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Some More Questions From Globalisation and Social Change Chapter

What aspect may be focused more on Globalisation in Political Science?

Write the names of three popular cities of different countries known for advancement of Information technology.

Write the names of three Indian cities popular for advancement of information technology.

Where does the largest number of poor people of the world live? Write the names of three countries of that region at stated by ILO report (International Labour Organisation).

“Impact of globalisation is of great social importance but its impact is different upon different sections of the society”. Explain this statement in about 100 words.

“Globalisation is not a new phenomena in a real sense for India”. Discuss. Give some examples also.

How can you point out that colonialism in India did not create hindrances in the progress process of global connection?

How can you prove that independent India retained a global outlook? Discuss very briefly.

Make a list products that you either use or have seen in the market or seen advertised which are produced by transnational corporations. You can make a list of products such as:

Shoes

Cameras

Computers

Television

Cars

Music Systems

Cosmetics like soaps or shampoos

clothes

Processed Food

Tea

Coffee

Milk Powder

Choose any point that is of interest to you and discuss how you think globalisation has affected it. You could choose cinema work, marriage or any other topic.