Describe the impact of globalisation on Indian economy with examples.
The impact are described are below:
i. MNCs have increased their investments in India over the past 15 years, which means investing in India has been beneficial for them.
ii. Several of the top Indian companies have been able to benefit from the increased competition. They have invested in newer technology and production methods and raised their production standards. Some have gained from successful collaborations with foreign companies.
iii. Moreover, globalisation has enabled some large Indian companies to emerge as multinationals themselves!
iv. Globalisation has also created new opportunities for companies providing services, particularly those involving IT. The Indian company producing a magazine for the London based company and call centres are some examples.
v. Besides, a host of services such as data entry, accounting, administrative tasks, engineering are now being done cheaply in countries such as India and are exported to the developed countries.
