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Question
Which sector has benefited least because of globalization in India?
Which sector has benefited least because of globalization in India?
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Solution
The correct option is D Agriculture
It should be noted that under the cumbersome provisions of GATT (General Agreement for Tariff and Trade) India could not open up its agriculture sector for international trade. India’s exports were mainly confined to
traditional items like spices, tea, coffee etc., which were having very low demand
elasticity in the international market.
It should be noted that under the cumbersome provisions of GATT (General Agreement for Tariff and Trade) India could not open up its agriculture sector for international trade. India’s exports were mainly confined to traditional items like spices, tea, coffee etc., which were having very low demand elasticity in the international market.
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