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Globalisation and The Indian Economy
How has globalisation been advantageous to both the producers as well as the consumers in India? Explain.
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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What do you understand by globalisation? Explain in your own words.
What was the reason for putting barriers to foreign trade and foreign investment by the Indian government? Why did it wish to remove these barriers?
How would flexibility in labour laws help companies?
What are the various ways in which MNCs set up, or control production in other countries?
Why do developed countries want developing countries to liberalise their trade and investment? What do you think should the developing countries demand in return?
‘The impact of globalisation has not been uniform’. Explain this statement.
How has liberalization of trade and investment policies helped the globalization process?
How does foreign trade lead to integration of markets across countries? Explain with an example other than those given here.
Globalisation will continue in the future. Can you imagine what the world would be like twenty years from now? Give reasons for your answer.
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?
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