Assess the impact of globalization on India and its people.

Assess the impact of globalization on India and its people.

Ans.
(i) Globalization has resulted in more choices for the consumers
(ii) This has improved the standard of living of people
(iii) MNCs have increased their investments in industries such as cell-phones,
automobiles, electronics, soft drinks, etc.
(iv) New jobs have been created.
(v) Some local companies that supply raw materials to MNCs have also
benefited.
(vi) Some local companies have been able to invest in newer technology and production methods.
(vii) Globalisation has enabled some large companies such as Tata Motors, Infosys to emerge as multi-national companies.
(viii) Companies providing services have also benefited by globalisation.
(ix) Flexibility in labour laws
(x) Expansion of unorganised sector
(xi) Stiff competition to the local producers
(xii) Any other relevant point
(Any five points)
Unit – Economics, Ch- Globalization,