"Information and communication technology has played a major role in spreading out products and services across countries”

"Information and communication technology has played a major role in spreading out products and services across countries”. Support the statement.

RAPID improvement in technology has been one of major factor that has stimulated the globalisation process.

  • Technology has helped in faster delivery of goods along long distance possible at lower costs.
  • Large containers for loading goods have been designed. This has reduced the costs of holdings at the ports besides resulting in faster delivery.
  • Cost of air travel has fallen, increasing the volume of trade.
  • In recent years, technology in the areas of telecommunications, computers, internet has been changing rapidly. Telecommunication facilities are used to contract one another around the world to access information instantly and to communicate from remote areas.
  • Teleconferences help in saving frequent long trips across the globe.
  • Internet also allows to send instant electronic mail and talk across the world at very low cost.