Question

Analyse any five positive effects of globalisation on the Indian economy.

Answer 1

The following are the positive impacts of globalisation on the Indian economy:

1) Increased foreign investment in India.

2) Greater cultural exchange because of greater movement of the people. This has greatly helped the tourism sector in India.

3) Opening up of the Indian markets to foreign goods.

4) The greater competition among companies leading to improvement of quality with reduction in prices of the products.

5) Access to newer technology and improved ways of production from the more advanced countries leading to efficiency in the local industries.