Question

What is the significance of multi-national sector in the development of industries in India?

Answer 1

A company that operates in a number of countries and has production and service facilities outside the country of its origin is known as multi-national companies. Their activities have both good and bad impacts on the economy. They take decisions on a global basis.

The investment of a single multi-national company is much greater than that of several Indian companies. It is a great advantage for industrial growth. They also transfer technology highly intensive to the use of unskilled labor. But their aim is cheap production and more profit. They also develop new technology needed by India.
The sophisticated technology in areas like petroleum, chemical, minerals is of great help to India because local development needs a long time and resources, which our country cannot offer or wait. So, multi-national sectors help in the rapid growth of industries.