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Globalisation and The Indian Economy
'Globalisation has been advantageous to consumers as well as to producers.' Support the statement with suitable examples.
The advantageous to producers-
(i) The producers now have a large number of well-off buyers.
(ii) They have invested in newer technology and production methods and raised their production standards.
(iii) Globalisation has enabled some large domestic companies to emerge as multinationals themselves. Eg. Tata Motors
The advantageous to consumers-
(i) There is greater choice before consumers who now enjoy improved quality and lower prices for several products.
(ii) People today enjoy much higher standard of living than was possible earlier.
(iii) Globalisation has led to the creation of new jobs.
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Supposing you find two people arguing : One is saying globalisation has hurt our country’s development. The other is telling, globalisation is helping India to develop. How would you respond to these arguments?
Indian buyers have a greater choice of goods than they did two decades back. This is closely associated with the process of ____________________. Markets in India are selling goods produced in many other countries. This means there is increasing __________________ with other countries. Moreover, the rising number of brands that we see in the markets might be produced by MNCs in India. MNCs are investing in India because _________________ While consumers have more choices in the market, the effect of rising _____________ and ________ has meant greate _____________ among the producers.
The past two decades of globalisation has seen rapid movements in:
The most common route for investments by MNCs in countries around the world is to:
Globalisation has led to improvement in living conditions.
'Starting around 1991, some far reaching changes in policy were made in India'. Explain.
State one positive and negative effects of globalisation in India.
'The Indian government, after independence has put many such barriers on foreign trade and foreign investment'. Explain.
Describe the advantages of foreign trade.
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