Analyze Positive Effects Of Globalization On Indian Economy

• Globalisation & Indian Economy (C10)

Analyze Positive Effects Of Globalization On Indian Economy?

Answer

1. Globalization has brought greater competition among producers - both local and foreign producers has been of advantage to consumers particularly the well-off sections in the urban areas.

2. There is greater choice before consumers. They enjoy improve quality at lower prices.

3. People today, enjoy much higher standards of living.

4. Local companies supplying raw material have prospered.

5. The top Indian companies have been able to benefit from increased competition.

6. Some Indian companies have gained from successful collaboration with foreign companies.

7. MNCs have increased their investments in India over the past 20 years, especially in cell phones, automobiles, electronics, soft drinks, etc.

8. Many Indian companies have emerged as Multi Nationals themselves. Example - Tata Motors, Infosys, Ranbaxy, Asian Paints, etc.

9. Globalization has created opportunities for new jobs.