Describe the impact of globalisation on Indian economy with examples.
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.