Supposing you find two people arguing: One is saying globalisation has hurt our countrys development. The other is telling, globalisation is helping India develop. How would you respond to these organisations?

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Solution

Benefits of globalization of India:
Increase in the volume of trade in goods and services
Inflow of private foreign capital and export orientation of the economy.
Increases volume of output, income and employment.

Negative Impact / Fears of Globalisation.
It may not help in achieving sustainable growth.
It may lead to widening of income inequalities among various countries.
It may lead to aggravation of income inequalities within countries.

Whatever may be the fears of globalisation, I feel that it has now become a process which is catching the fancy of more and more nations. Hence we must become ready to accept globalisation with grace and also maximise economic gains from the world market.

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Similar questions

How has globalisation impacted on India and how is India in turn impacting on globalisation?

Choose the most appropriate option.

(i) The past two decades of globalisation has seen rapid movements in

(a) goods, services and people between countries.

(b) goods, services and investments between countries.

(ii) The most common route for investments by MNCs in countries around the world is to

(a) set up new factories.

(b) buy existing local companies.

(iii) Globalisation has led to improvement in living conditions

(a) of all the people

(b) of people in the developed countries

(d) none of the above

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