'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.