Question

Explain impact of Globalization on agriculture.

Answer 1

Globalization is the process of merging of different countries and accomplishments through advanced foreign trade and foreign investment. The process of globalization not only opened up the economy but also accelerated the cross-border mobility of persons, goods, capital, data, and ideas. Negatively it also opened up the society to infections, diseases, and pollution, drugs, criminalization, etc. Globalization refers to the process of integration the domestic economy with the world economy. In an Indian context, it implies opening up the economy to foreign direct investment and provide entry to Multinational corporations in India. The process of globalization has revolutionized World Agriculture and allied sectors directed to improve the efficiency productivity and cost competitiveness. Intellectual property right cause unfavorable impacts on Indian agriculture. Multinational companies can easily enter in the field of agriculture and it will be bad for the margin farmers. Receiving the international market for the agricultural goods of India, there is an increase in farmer’s agricultural product, new technology, new seeds etc. helped to grow the agricultural product.