Mention the negative consequences of Globalisation.
Negative impacts of Globalisation:
(i) Small producers have to Compete or perish. For a large number of small producers and workers globalisation has posed major challenges.
(ii)Batteries, capacitors, plastics, toys, tyres, dairy products, and vegetable oil are some examples of industries where the small manufacturers have been hit hard due to competition. Several of the units have shut down rendering many workers jobless. The small industries in India employ the largest number of workers (20 million) in the country, next only to agriculture.
(iii) Globalisation and the pressure of competition have substantially changed the lives of workers. Faced with growing competition, most employers these days prefer to employ workers ‘flexibly’. This means that workers’ jobs are no longer secure.
