Describe the impact of globalisation on Indian economy with examples

cbse
economics
globalisation-indian
cbse-class-10
cbse-class-10-social

#1

Describe the impact of globalisation on Indian economy with examples.

Answer:
Impact of Globalisation on Indian Economy:

  • Higher standard of living in urban areas.
  • The impact has not been uniform among producers and investors.
  • There is greater choice before the consumers who now enjoyed quality and lower prices for several products.
  • MNC’s have increased their investment in India leading to more Job opportunities.
  • Globalisation has enabled some large Indian companies to emerge as MNC’s themselves like Tata Motors, Infosys, Ranbaxy, Asian Paints, etc.
  • Globalisation has also created new opportunities for companies providing services particularly those involving IT (Information Technology).
    For example, The Indian company producing a magzine for the London based company and call centres.
  • Local companies supply raw materials to foreign industries and have prospered.