Opening up the economy to economies of the world so that Indian economy can compete at international level is called -
The correct option is B Globalisation
Globalization means the
speedup of movements and exchanges (of human beings, goods, and services,
capital, technologies or cultural practices) all over the planet. One of the
effects of globalization is that it promotes and increases interactions between
different regions and populations around the globe. There are several
key factors which have influenced the process of globalisation: Improvements in
transportation - larger cargo ships mean that the cost of transporting goods
between countries has decreased. ... Transport improvements also mean that
goods and people can travel more quickly. Globalization also have its
side effects to the
developed nations. These include some factors which are jobs insecurity, fluctuation
in prices, terrorism, fluctuation in currency, capital flows and so on.
Globalization means the speedup of movements and exchanges (of human beings, goods, and services, capital, technologies or cultural practices) all over the planet. One of the effects of globalization is that it promotes and increases interactions between different regions and populations around the globe. There are several key factors which have influenced the process of globalisation: Improvements in transportation - larger cargo ships mean that the cost of transporting goods between countries has decreased. ... Transport improvements also mean that goods and people can travel more quickly. Globalization also have its side effects to the developed nations. These include some factors which are jobs insecurity, fluctuation in prices, terrorism, fluctuation in currency, capital flows and so on.
