Question

What do you mean by globalization? Write impact of globalization on India.

Answer 1

It is a kind of process by which interconnectedness or integration between different countries through trade, migration of people,or it can be flow of capital, and transfer of technology .
Impact of globalisation on:

• Producers: Tough competition faced by the producers in the native country by the producers of foreign markets
• Workers: Job insecurity, denial of fair share in the benefits brought about by globalisation.

Other impacts:

• Increase in the foreigh trade
• Increase in foreign investment
• exchange of technology between countries.
• Better means of communication have developed alongside globalization
• Better job opportunities for people gave rise to migration